6ly410 Posted October 16, 2020 Report Share Posted October 16, 2020 The government intends to apply income tax to salaries and allowances, starting from the current month https://economy-news.net/content.php?id=22282 money and business Economy News - Baghdad Informed political sources revealed that the government intends to issue a decision to apply the income tax law to the total salary since the current month of October. The Ministry of Finance imposes an income tax of 3% to 15% on the nominal salary of employees. The sources, who preferred not to be named, told Al-Iqtisad News that the government is directing a major crisis in providing liquidity to pay the salaries of employees, especially this month, noting that the salaries of this month are witnessing a large deficit after the government has exhausted internal loans and that oil revenues are not Enough for that. She noted that the application of the Income Tax Law on the total salary, not just the nominal salary, will give the government an amount of 600 billion dinars. The government applies an income tax from one dinar to 500,000 dinars, at a rate of 3%, and if the salary is more than 500,000 to one million dinars, then the income tax is 5%, and if it is more than a million to 2 million, 10% is applied, and if it is more than 2 million dinars, it applies. 15%. Number of observations 149 Date of addendum 10/16/2020 3 8 Quote Link to comment Share on other sites More sharing options...
ASUMama Posted October 16, 2020 Report Share Posted October 16, 2020 Flat tax. Sounds fair to me. 5 Quote Link to comment Share on other sites More sharing options...
gregp Posted October 16, 2020 Report Share Posted October 16, 2020 RV time. Thanks 5 1 1 Quote Link to comment Share on other sites More sharing options...
3n1 Posted October 16, 2020 Report Share Posted October 16, 2020 Hmmm... Taxation without representation , heres hoping positive change is about to occur . taxation without representation describes a populace that is required to pay taxes to a government authority without having any say in that government's policies. 2 4 Quote Link to comment Share on other sites More sharing options...
DinarThug Posted October 16, 2020 Report Share Posted October 16, 2020 2 hours ago, 6ly410 said: The government intends to apply income tax to salaries and allowances, starting from the current month https://economy-news.net/content.php?id=22282 money and business Economy News - Baghdad Informed political sources revealed that the government intends to issue a decision to apply the income tax law to the total salary since the current month of October. The Ministry of Finance imposes an income tax of 3% to 15% on the nominal salary of employees. The sources, who preferred not to be named, told Al-Iqtisad News that the government is directing a major crisis in providing liquidity to pay the salaries of employees, especially this month, noting that the salaries of this month are witnessing a large deficit after the government has exhausted internal loans and that oil revenues are not Enough for that. She noted that the application of the Income Tax Law on the total salary, not just the nominal salary, will give the government an amount of 600 billion dinars. The government applies an income tax from one dinar to 500,000 dinars, at a rate of 3%, and if the salary is more than 500,000 to one million dinars, then the income tax is 5%, and if it is more than a million to 2 million, 10% is applied, and if it is more than 2 million dinars, it applies. 15%. Number of observations 149 Date of addendum 10/16/2020 Another Great Find - Ur On A Roll Bro ! Now Go And See If U Can Find ‘Other Bro’ ... LINK The government intends to apply income tax to salaries and allowances, starting from the current month 16th October, 2020 Informed political sources revealed that the government intends to issue a decision to apply the income tax law to the total salary since October The Ministry of Finance imposes an income tax of 3% to 15% on the nominal salary of employees The sources, who preferred not to be named, told Al-Iqtisad News that the government is directing a major crisis in providing liquidity to pay the salaries of employees, especially this month, noting that the salaries of this month are witnessing a large deficit after the government has exhausted internal loans and that oil revenues are not Enough for that She noted that the application of the Income Tax Law on the total salary, not just the nominal salary, will give the government an amount of 600 billion dinars The government applies an income tax from one dinar to 500,000 dinars at a rate of 3%, and if the salary is more than 500,000 to one million dinars, then the income tax is 5%, and if it is more than a million to 2 million, then 10% is applied, and if it is more than 2 million dinars, it applies. 15% 1 8 Quote Link to comment Share on other sites More sharing options...
tigergorzow Posted October 16, 2020 Report Share Posted October 16, 2020 6ly410, DT, Excellent articles keep em coming...😁😁👍👍🙏🙏. GO RV & RI 1 2 2 4 Quote Link to comment Share on other sites More sharing options...
Floridian Posted October 16, 2020 Report Share Posted October 16, 2020 This sounds good to me. You would think that the people would complain about being taxed, unless the the value of their money is about to be changed for the better. 1 9 Quote Link to comment Share on other sites More sharing options...
horsesoldier Posted October 16, 2020 Report Share Posted October 16, 2020 You’d think they’d need a bonafide IQD instead of the current toilet paper value to make the case to have this thrown to the wall hoping it sticks. 4 Quote Link to comment Share on other sites More sharing options...
Shelley Posted October 16, 2020 Report Share Posted October 16, 2020 Certainly not giving the citizens more purchasing power .... the rate has to be changed !! 3 1 3 Quote Link to comment Share on other sites More sharing options...
Popular Post Laid Back Posted October 17, 2020 Popular Post Report Share Posted October 17, 2020 Taxation without purchasing power..... 🤔 Decreasing salaries by 30 - 35%..... 🤔 Go RV this month Go $1:1 5 6 12 Quote Link to comment Share on other sites More sharing options...
Artitech Posted October 17, 2020 Report Share Posted October 17, 2020 I think this is big news! Something must be going on behind the scenes! 🤠 Go RV !JMHO 3 2 1 Quote Link to comment Share on other sites More sharing options...
GregHi Posted October 17, 2020 Report Share Posted October 17, 2020 6 minutes ago, Artitech said: I think this is big news! Something must be going on behind the scenes! 🤠 Go RV !JMHO I agree.. They talk of reducing the purchasing power of the dinar, behind on paying salaries and now taxing the people? I’m surprised their aren’t major riots yet across all of Iraq.. I think they will start taxing them but post RV.. 1 1 1 Quote Link to comment Share on other sites More sharing options...
GregHi Posted October 17, 2020 Report Share Posted October 17, 2020 I remember my Kurdish friend telling me years ago that paying taxes in Iraq was voluntary, so nobody really does it.. seemed odd to me.. I mentioned taxes taken out when it RVs, either capital gains or income tax and he looked at me funny and said, I’ll just change over my dinars for USD in Iraq and wire them to the US.. (meaning no taxes for him).. 3 4 Quote Link to comment Share on other sites More sharing options...
screwball Posted October 17, 2020 Report Share Posted October 17, 2020 6 hours ago, GregHi said: I agree.. They talk of reducing the purchasing power of the dinar, behind on paying salaries and now taxing the people? I’m surprised their aren’t major riots yet across all of Iraq.. I think they will start taxing them but post RV.. Something big going on 2 1 Quote Link to comment Share on other sites More sharing options...
DoD Posted October 17, 2020 Report Share Posted October 17, 2020 6 hours ago, GregHi said: I remember my Kurdish friend telling me years ago that paying taxes in Iraq was voluntary, so nobody really does it.. seemed odd to me.. I mentioned taxes taken out when it RVs, either capital gains or income tax and he looked at me funny and said, I’ll just change over my dinars for USD in Iraq and wire them to the US.. (meaning no taxes for him).. Hey Greg, I have a question for your friend. If the Dinar is equal to the dollar why would he change them in for the dollar? I’ll also assume that in the coming days that paying taxes will not be a voluntary action but will be applied across the board on salaries, cars and food goods.... 1 3 Quote Link to comment Share on other sites More sharing options...
GregHi Posted October 17, 2020 Report Share Posted October 17, 2020 2 hours ago, DoD said: Hey Greg, I have a question for your friend. If the Dinar is equal to the dollar why would he change them in for the dollar? I’ll also assume that in the coming days that paying taxes will not be a voluntary action but will be applied across the board on salaries, cars and food goods.... Hey DoD.. both my Shia friend and my old Kurdish friend live here in the states now. They were both translators for the US Army civilians with the DOD back in 2003 or so but my Kurdish friend was a much higher level translator. He was making a ton of money from the DOD and would sometimes even translate for Gen. Petraeus.. He had some incredible stories. Anyway, he would go back to his home in Erbil where his brother lives about once a year. So he was just telling me if he had to pay taxes on dinar here, he would go back home and not have to.. He would ultimately change it over to USD because he lives here in the US. And yes now that Iraq is implementing taxes they will probably have to pay up even over there.. 5 2 Quote Link to comment Share on other sites More sharing options...
Longtimelurker Posted October 17, 2020 Report Share Posted October 17, 2020 3 hours ago, GregHi said: Hey DoD.. both my Shia friend and my old Kurdish friend live here in the states now. They were both translators for the US Army civilians with the DOD back in 2003 or so but my Kurdish friend was a much higher level translator. He was making a ton of money from the DOD and would sometimes even translate for Gen. Petraeus.. He had some incredible stories. Anyway, he would go back to his home in Erbil where his brother lives about once a year. So he was just telling me if he had to pay taxes on dinar here, he would go back home and not have to.. He would ultimately change it over to USD because he lives here in the US. And yes now that Iraq is implementing taxes they will probably have to pay up even over there.. Maybe thats why they are implementing taxes so quickly 3 Quote Link to comment Share on other sites More sharing options...
Donziman Posted October 18, 2020 Report Share Posted October 18, 2020 Taxes are generally taken out before the check is given to the employee which would make the middle class and poor people even poorer. Soo one of two things is happening. The government is broke and as usual they beat the slaves harder or they are going to raise the dinar value to get more tax money ,but more importantly get some of that chunky money out from under the mattress and into circulation . just guessing... 3 2 Quote Link to comment Share on other sites More sharing options...
horsesoldier Posted October 18, 2020 Report Share Posted October 18, 2020 35 minutes ago, Donziman said: Taxes are generally taken out before the check is given to the employee which would make the middle class and poor people even poorer. Soo one of two things is happening. The government is broke and as usual they beat the slaves harder or they are going to raise the dinar value to get more tax money ,but more importantly get some of that chunky money out from under the mattress and into circulation . just guessing... Had today's situation remained as in the " good ole days of the criminal politicians " ( prior to Kazemi coming on board ), beating the slaves harder would be the criminal politicians choice; however, with Kaz driving the bus I'll opt for raising the the IQD value. . . and the sooner the better 2 Quote Link to comment Share on other sites More sharing options...
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