Iraqis May Have To Start Paying Taxes To Cover Serious Cash Shortfall !

[DinarThug]

CNN. Broadcasting That They Need To Give Their Currency More Value If They Plan On Extracting Taxes !

 

 

 

Iraqis may have to start paying taxes to cover serious cash shortfall
By RUDAW 6 hours ago

 

 

Hoshyar Zebari: ‘There will be car, property and even travel tax

 

BAGHDAD, Iraq – As the Kurdistan Region awaits the payment of arrears from Baghdad, the Iraqi finance minister said the country is facing a serious cash shortfall and is looking to introduce property, car and travel taxes.

Finance Minister Hoshyar Zebari, himself a Kurd, said that the Kurdistan Region will start to receive its monthly budget as soon as the Iraqi parliament approves the 2015 budget.

“Based on the Baghdad-Erbil agreement Kurdistan’s budget will not be delayed from now on,” Zebari told Rudaw. 

But he explained that Baghdad is currently facing serious cash shortages: it is short 25 trillion dinars to make up the 125 trillion dinars that the country needs for 2015.

He added that the Iraqi government is pondering the introduction of a tax system “in order to raise domestic revenue, and people should learn to pay taxes,” and that the proposal bas backed by Prime Minister Haidar al-Abadi.

“There will be car, property and even travel tax,” he said. “Eighty percent of Iraq’s money goes to salaries and the rest goes to investment and projects,” he added.

Zebari said that Baghdad still owes the Kurdistan Region the budget of at least 10 months of this year that was blocked by the government of former prime minister Nouri al-Maliki, and that it has become a complicated issue now.

The finance minister predicted that next year will be a difficult year for Iraq’s finance, mainly to the falling oil prices which makes up more than 95 percent of Iraq’s revenue.

Constitutionally, the autonomous Kurdistan Region is entitled to 17 percent of the Iraqi budget. But those payments have remained frozen for most of this year due to a row over independent Kurdish oil exports.

http://rudaw.net/english/middleeast/iraq/29122014

[eburt]

Okay I don't know what to make of this article...Is this good or bad for us regarding a RV in 2015?????

[Deborah Layne]

They won't impose taxes without increasing the value of the IQD. If they're talking about taxes, it's a good thing

[SnowGlobe7]

the people need an income to be able to pay taxes.......how many have an income?

[DinarThug]

There Also Has Been A Lot Of Very Recent Articles About Imposing Tariffs As Well !

 

All Of Which Are Signs Of An Economy Graduating To Another Level !

 

           

[siberian_shaddow]

Much Appreciated Thugs, if they would change there rate to more of a international recognized currency, they would be able to pay more of there bills instead of complaining.

[chess]

Wellllll, (1) goat paid = how many dinar for tax purposes??

[DinarThug]

the people need an income to be able to pay taxes.......how many have an income?

 

The HCL Law Will Direct A Revenue Stream Back To The Provinces And Eventually Down To The Peeps !

 

         

[DWitte]

The whole country isn't on welfare is it?  Somebody has to have a job.  Did you know that the PM of Iraq is the highest paid PM in the world at $3mil per year?  That's a lot of goats.

 

How many dinar is a goat worth and how do you put goats in the bank?  Maybe Kuwait will take 500 million goats as payment for the $2 Billion that Iraq still owes them.

Edited December 29, 2014 by DWitte

[DinarThug]

Wellllll, (1) goat paid = how many dinar for tax purposes??

 

That Depends On If It's A Bavarian Mnt Goat ?

 

           

[SnowGlobe7]

The HCL Law Will Direct A Revenue Stream Back To The Provinces And Eventually Down To The Peeps !

 

         

 

Exactly

[ChuckFinley]

I am with you ladies and Thug. If you are to pay taxes, then you better have a currency that is worth something.

[blueskyline]

If they Graduate to another level . I hope they Graduate Summa Cum Laude with a Special Signet Ring and a Host of Secret Handshakes 

[dontlop]

They got to keep their gdp numbers up

The debt to GDP ratio is important statistic as far as credit rating goes

The govt recycling the money thru taxation brings that number up

Tariffs will be put in place to encourage Iraqis to buy domestic products over imports to keep the external debt level as low as possible

I thought they already paid income tax and corporate tax

At least the rates are listed I've seen them before

I think personal income tax was 15% and corporate taxes were 25% for iraq

I'm not sure about sales taxes

Edited December 29, 2014 by dontlop

[eburt]

Hmmm How is Iraq able to bring taxes and put Tarriffs in place without a tradable currency - At some point would they have to RV their currency?  WOW I don't see how they could go another year without doing some type of RV....Just my

[dontlop]

According to this link Iraqs tax rate is 15% across the board

http://www.tradingeconomics.com/iraq/personal-income-tax-rate

In Iraq, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Iraq. This page provides - Iraq Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Iraq Personal Income Tax Rate - was last refreshed on Monday, December 29, 2014.

[eburt]

According to this link Iraqs tax rate is 15% across the board

http://www.tradingeconomics.com/iraq/personal-income-tax-rate

In Iraq, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Iraq. This page provides - Iraq Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Iraq Personal Income Tax Rate - was last refreshed on Monday, December 29, 2014.

Thanks dontlop for this GREAT infor....

[dontlop]

Top rate is 15%

Im not sure what the entire tax structure is

It could be real low at the lower end so they may be increasing taxes and in my opinion it could just be temporary

Taxes like everywhere else go up and down

[aliciadogz]

Give world the RV and we all can be TAX I think good there talking about it.

[chinadawg]

Abadi is saying to the people, get ready for changes, things you have never seen before...........property taxes...........car taxes......travel taxes..........he is simply planting seeds in the minds of his peeps what is coming, IMO, they must have the increase in the value of the dinar before they see the new taxes.

[v-star 650]

I had been  waiting for  the  up rise of  the mad  folks  about  high  taxation , and  the  other  problem they have yet too see ----  N.S.F.    non sufficient funds  .... from banking .........    just  the ripples  in the water  just before  the  change  of prosperity  ....  { i.m.o. }  

[sandfly]

THANKS CLOWN

[DinarThug]

THEY'RE GONNA IMPOSE A TAX ON 'THANKING' !