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The government intends to apply income tax to salaries and allowances, starting from the current month


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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

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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. 

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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


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The government intends to apply income tax to salaries and allowances, starting from the current month

 

2264.jpg

 

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%

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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..

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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)..

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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 

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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....

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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..

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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

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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...

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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

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