International Monetary Fund: The tariff rate in force in Iraq is 1% and its revenues from customs are less than 600 million dollars

[yota691]

International Monetary Fund: The tariff rate in force in Iraq is 1% and its revenues from customs are less than 600 million dollars

 

Logo of the International Monetary Fund

Economy News Baghdad:  The International Monetary Fund announced that the price of customs tariff in force in Iraq is 1%, adding that Iraq's revenues from customs duties for goods during the last year amounted to less than 600 million dollars, noting that Iraq imported goods worth 53 billion dollars in 2016. The International Monetary Fund said in a report published on "Iraq" and seen by "Economy News", "The proceeds of customs duties in Iraq is very small compared to the size of imports depend on the economy to meet local needs," noting that "Iraq depends on a lot of foreign goods to meet Consumer needs and pays a huge annual import bill estimated at $ 53 billion last year. " He pointed out that "the customs duties collected during the year 2016 were less than 600 million dollars, that is, the tariff tariff applicable 1%."  The IMF attributed the weakness of revenues from customs to "customs tariff law, which involves many exemptions and weak customs administration and the spread of border gaps."   Views 543   Date Added 09/22/2017

[presence]

Thanks Yota. I suspect  we will see  a lot of discussion about this topic shortly associated with a lot of change-

[King Bean]

When they launched the tariffs "officially" they had variable taxes, some quite hefty on big ticket items like Mercedes. 1% is a mere pittance of what they should have collected. It's in someone's out of country bank account by now, you can be assured. Is there ONE honest person in Iraq?? Doubtful.

[skeetdog]

7 minutes ago, King Bean said:

When they launched the tariffs "officially" they had variable taxes, some quite hefty on big ticket items like Mercedes. 1% is a mere pittance of what they should have collected. It's in someone's out of country bank account by now, you can be assured. Is there ONE honest person in Iraq?? Doubtful.

....Very good analyses...Was thinking the same thing as read this....

[ChuckFinley]

1 hour ago, King Bean said:

When they launched the tariffs "officially" they had variable taxes, some quite hefty on big ticket items like Mercedes. 1% is a mere pittance of what they should have collected. It's in someone's out of country bank account by now, you can be assured. Is there ONE honest person in Iraq?? Doubtful.

Great job KB, love your assessment. "Doubtful".  

[yota691]

2017/10/07 (00:01 PM)   -   Number of readings: 164   -   Number (4034)

 

 

We import goods worth $ 53 billion and its fees are only $ 600 million

 Baghdad / Range 
 

The economic experts stressed that the national economy is still weak due to policies and plans are not clear, pointing out at the same time that the state when it is today to maximize its non-oil resources such as activation of taxes and collection and customs, it must first eliminate the financial and administrative corruption that still disrupt the activation of these resources, And contributes to the waste of billions of dollars worth of money.
A member of the Committee on Economy and Investment parliamentary Zeytun Dulaimi said that "Customs is still suffering financial corruption and there is a large defect in the implementation of mechanisms of collection and payment of funds from customs, adding in the statement (to the extent) that" the citizen returns to appropriate prices for goods and goods being entered without a financial response to the collection or And the opening of borders has contributed to the dumping of goods in the market, especially consumerism at random, which led to the strangulation of local product and disappearance in the local market, "The customs to date did not work accurately and professionally, did not apply the correct mechanisms, which helped On the expansion of financial waste And corruption, which is estimated at billions of dollars.
Al-Dulaimi said: "It is regrettable that the government itself is no longer able to control completely all the border crossings, the presence of influential gangs within the customs and border crossings dominate the work," pointing out that the government is trying hard through the plans and strategies full control of border crossings "We hope that the work of these important facilities in the coming years will be better than in previous years." 
Dulaimi also stressed the need to "work on the electronic device within the ports, especially that there are foreign companies can help in the management of border crossings and revenues electronically, and so we can control manipulation of funds and resources large and important for the people."
 The member of the Committee on Economy and Investment parliamentary "the formation of a special economic committee by the Prime Minister to support the private sector and revitalize and maximize the revenues of the non-oil state until we get our national economy to a state of stability, which will examine the support of this sector through increased loans to the neighborhoods of industry and local product , Because we must go back to our national economy to domestic product and impose competition in the domestic market. " 
For her part, said economic expert d. Salam said that "the financial corruption is still rampant in the customs," asserting in the statement (of the range) that "the mechanism to meet the customs duties of goods and services and contained a large defect and need to re-formulas and mechanisms to rid them of the financial waste estimated billions of dollars that go in pockets Corrupt, "noting that" imports that do not pay customs duties cause the weakening of the national economy. "
"The activation of customs and collection requires the establishment of a flexible administrative system and high efficiency by the employees, in addition to the formation of an integrated system to meet these funds," Samesem said, "but the state has not yet put enough laws that provide good financial coverage, but the state is still The bureaucracy, which is considered a door to the destruction of the economy, pointing out: to the laws and instructions issued by the higher authorities such as the Central Bank of Iraq and the General Authority of customs does not apply, so we see that the bureaucratic instructions are the basis and even open other doors to corruption, not to mention that the mechanisms of activation are Originally Ephah, which made the national economy is the weakest link in all state policies. "
"The laws issued by the Central Bank or the General Authority for Taxation earlier are useless because traders are going through a number of routine administrative steps, forcing them to give money (bribes) to cross those stages, and there we see that the administrative bureaucracy once again opens "On the other hand, there are committees to evaluate goods and goods with false and unrealistic estimates and receive money in the framework of bribes, which confirms that the process of activating the work of the customs remains dependent on changing the mechanisms used to collect and activate the administrative system in a contemporary manner. Global laws ".
Samisem also confirms the existence of leaks from sources that indicated that the budget of 2018 will be destined to maximize the state's non-oil resources, such as the activation of taxes and customs fees and revive the local product by increasing the collection of customs fees and collection on the foreign product to forget the local product to compete in the market at reasonable prices and balanced conditions Encouraging, through the laws and the export and import of simple goods and production materials, "and stressed that" the country needs to manage and a conscious economic decision sets the goal of maximizing non-oil resources and revive the domestic product, and then we can see positive results for that policy. "
It is noteworthy that the International Monetary Fund announced earlier that the tariff rate in force in Iraq is 1%, adding that Iraq's revenues from the customs duties of goods during the last year amounted to less than 600 million dollars, noting that Iraq imported in 2016, goods worth 53 Billion dollar. "Iraq is dependent on a lot of foreign goods to meet its consumer needs and pays a huge annual import bill estimated at $ 53 billion," the IMF said in a report on Iraq. Last year. " 
The IMF attributed in its report the reasons for the weakness of revenues from customs to" the law of tariff customs, which involves many exemptions and weak customs administration and the spread of border gaps.