Coverage of Goods Entering Iraq Under the Law of Leave

[carlablum]

Director General of Customs (morning economic): coverage of goods entering Iraq under the law of leave

Basra Saad al-Samak

Waiting for the concerned affairs Alkmarki published the new customs tariff law in the Official Gazette (the facts of Iraq) to be implemented as would be subject to all goods entering Iraq under the Law of the holiday as of 01/01/2011.

A director of the Public Authority for Customs Brigade Nofal Salim Hamid in a statement through his presence in Basra to determine the nature of the work Alkmarki maintain that the financial statements to draw the reconstruction of this year indicate verified 344 billion dinars in the escalation, saying the inclusion of all goods entering Iraq to register the license from 1-12011 issued by the Ministry of Commerce to curb the import of goods by traders bad.

He explained that preparations for the opening of a special session to prepare the agents directing Alkmarki completed to be working exclusively in the southern region to meet the needs in those terms of reference in support of the development work of the private sector in that area, and between, in his speech that the process of implementing a plan to computerize the information and treatment customs and re-building customs warehouses in the areas of customs and set up a system of electronic communication between regions and departments on the one hand and the seat of the Organization and to refer the bid to buy 24 Sonara to detect contraband.

Gen. Nofal that a law customs tariff will begin 90 days after its publication newspaper the facts of Iraq, indicating that the percentage of tariffs ranging from zero of custom to 20% and can increase to 50% to be the first of its kind for the demarcation of commercial shipments after the change in 2003 is to regain the customs work on the charging deliberate and proportionate to the commercial imports depending on what constitutes the basics in the country's needs and in harmony with the Customs Law and instructions of Finance and that (this bill includes 97 items of various materials, explaining that there is a change in the rate imposed on commercial shipments ranging tariff between 5 to 30% It can be increased to 50% in certain cases depending on the nature and quality of the shipment are allowed to enter according to the law) and explained that what is being met from fees is currently 50% of the cargo business is in fact tax the reconstruction of Iraq, indicating (that all his goods entering the country take them Asnevae this drawing, and the reality of the case is not a fee Kmarkia, but the reconstruction levy was imposed after 2003, said Maj. Gen. Nofal that tariff law has gone through several stages to being an al Qaeda base in order to maximize the state resources of the various economic activities of the country therefore necessary to take sufficient time for approval , revealing the brigade that what has been achieved revenues of more of 344 billion dinars in 10 months, the past and is set well said (that the past period have not experienced scrutiny, as witnessed this year on the subject of a certificate of origin and a medical examination, which have become two points Mlazemtin treatment customs) as adopted This year the Commission the right approach in the transaction of customs, and a related development, anticipate economic expert Majed Hilal al-Tamimi to jump imports customs next year to 5 trillion dinars, the highest rate in the history of customs of Iraq in the event of a law Tariff new, and said that the total imports under tariff customs have exceeded $ 32 billion for the years 2005 and 2006 and increased its size 15% ascending through the years 7200 and 8200 and 9200 as it returned in 2010 to set back to before the increase, and the forecast of economic development which has been ratcheting the country during the coming period, said: "These figures include the materials that are subject to the law of customs tariffs is that they are exempt from the imposition of fees for tax ages standard of 5% on commercial shipments will be coverage of tariff and said Tamimi, the data for economic growth, the new will be announced later, said Hilal al-Tamimi: The fees the new tax rate are figured prominently in the box of state resources may up to 4 billion dollars, equivalent to 5 trillion dinars as much as 9 times the size declared in 2009 and is this year, according to official statistics of the Ministry of Finance, the highest in the history of the size and roses Customs financial at all, according to a report of the Central Bank of Iraq, the volume of exports College for the years 2005 and 2006 amounted to 54.225 billion dollars The Vqrta oil and sulfur may be formed of her spine, reaching Okiemha For the same period was 53 billion and 876 million dollars, said Hilal al-Tamimi said the law, if enacted, will change the nature of the market and the economy as a whole, adding that there are economic factors that push countries that would put restrictions on their products thinking the establishment of factories for companies in Iraq to avoid the restrictions and taxes, and said that the phenomenon we need to assess our economy and make economies in the future in the context of modernization and development of system completion of the transaction customs Gen. Nofal that project to computerize the transaction information of customs is one of the main objectives the task that is seeking authority to accomplish the end of this year, will be able to Agents directing and merchants to complete transactions customs quickly record and will show the required data and the value of customs duties without any interference from the employee in determining the measurement procedures and fees imposed on commercial shipments, saying that the commission had completed all preparations to set up the electronic communication by the year 2011 and DFI is going ahead with proceedings obtain the approval of stakeholders, pointing that the project will allow the Office of the Commission relates that monitors video and audio all areas of customs and added that those two methods because of its significant role to reduce apparent financial and administrative corruption, especially as an employee customs in contact directly with traders and deal Mahmm directly is a leap the quality of administrative transactions in the style of government management.

As the Major-General the importance of rebuilding stores Centre customs to complete the concentric rings to work Alkmarki and said: "The Body in connection with the reconstruction of stores in the areas of customs, and these tasks are essential in the work of Alkmarki especially that all imports need to be laboratory tests are supposed to be stored Kmarkia pending the results of the examination laboratory proved its validity and the actual intervention and otherwise returned to the originator.

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&u=http://www.alsabaah.com/paper.php%3Fsource%3Dakbar%26mlf%3Dinterpage%26sid%3D112170&prev=/search%3Fq%3Dwww.nahrain.com%26hl%3Den%26sa%3DG&rurl=translate.google.com&usg=ALkJrhgfpi7yt4LQSMWz4Y4HiJGSlF8pNg

[RVDinar4MyFamily]

On another site it is claimed that this article implies that there needs to be a "viable tradable currency" by 1/1/11 but I dont see it

HOWEVER...I do think this article does show soemthing when it comes to Chpt VII sanction because Iraq is not allowed to impose tariffs under the sanctions. So they might be expecting that the sanctions will be lifted by the eoy, and that is very good news.

I may be wrong and maybe this was address by a executive order already to allow Iraq to impose these tariffs w/o lifting of the full Chpt VII sanctions

[VIZIOIRAQI]

ECONOMIC: DIRECTOR General of Customs (morning economic): Coverage of Goods Entering Iraq Under the Law of Leave

Basra Saad al-Samak

Waiting for the concerned affairs Alkmarki published the new customs tariff law in the Official Gazette (the facts of Iraq) to be implemented as would be subject to all goods entering Iraq under the Law of the holiday as of 01/01/2011.

A director of the Public Authority for Customs Brigade Nofal Salim Hamid in a statement through his presence in Basra to determine the nature of the work Alkmarki maintain that the financial statements to draw the reconstruction of this year indicate verified 344 billion dinars in the escalation, saying the inclusion of all goods entering Iraq to register the license from 1-12011 issued by the Ministry of Commerce to curb the import of goods by traders bad.

He explained that preparations for the opening of a special session to prepare the agents directing Alkmarki completed to be working exclusively in the southern region to meet the needs in those terms of reference in support of the development work of the private sector in that area, and between, in his speech that the process of implementing a plan to computerize the information and treatment customs and re-building customs warehouses in the areas of customs and set up a system of electronic communication between regions and departments on the one hand and the seat of the Organization and to refer the bid to buy 24 Sonara to detect contraband.

Gen. Nofal that a law customs tariff will begin 90 days after its publication newspaper the facts of Iraq, indicating that the percentage of tariffs ranging from zero of custom to 20% and can increase to 50% to be the first of its kind for the demarcation of commercial shipments after the change in 2003 is to regain the customs work on the charging deliberate and proportionate to the commercial imports depending on what constitutes the basics in the country's needs and in harmony with the Customs Law and instructions of Finance and that (this bill includes 97 items of various materials, explaining that there is a change in the rate imposed on commercial shipments ranging tariff between 5 to 30% It can be increased to 50% in certain cases depending on the nature and quality of the shipment are allowed to enter according to the law) and explained that what is being met from fees is currently 50% of the cargo business is in fact tax the reconstruction of Iraq, indicating (that all his goods entering the country take them Asnevae this drawing, and the reality of the case is not a fee Kmarkia, but the reconstruction levy was imposed after 2003, said Maj. Gen. Nofal that tariff law has gone through several stages to being an al Qaeda base in order to maximize the state resources of the various economic activities of the country therefore necessary to take sufficient time for approval , revealing the brigade that what has been achieved revenues of more of 344 billion dinars in 10 months, the past and is set well said (that the past period have not experienced scrutiny, as witnessed this year on the subject of a certificate of origin and a medical examination, which have become two points Mlazemtin treatment customs) as adopted This year the Commission the right approach in the transaction of customs, and a related development, anticipate economic expert Majed Hilal al-Tamimi to jump imports customs next year to 5 trillion dinars, the highest rate in the history of customs of Iraq in the event of a law Tariff new, and said that the total imports under tariff customs have exceeded $ 32 billion for the years 2005 and 2006 and increased its size 15% ascending through the years 7200 and 8200 and 9200 as it returned in 2010 to set back to before the increase, and the forecast of economic development which has been ratcheting the country during the coming period, said: "These figures include the materials that are subject to the law of customs tariffs is that they are exempt from the imposition of fees for tax ages standard of 5% on commercial shipments will be coverage of tariff and said Tamimi, the data for economic growth, the new will be announced later, said Hilal al-Tamimi: The fees the new tax rate are figured prominently in the box of state resources may up to 4 billion dollars, equivalent to 5 trillion dinars as much as 9 times the size declared in 2009 and is this year, according to official statistics of the Ministry of Finance, the highest in the history of the size and roses Customs financial at all, according to a report of the Central Bank of Iraq, the volume of exports College for the years 2005 and 2006 amounted to 54.225 billion dollars The Vqrta oil and sulfur may be formed of her spine, reaching Okiemha For the same period was 53 billion and 876 million dollars, said Hilal al-Tamimi said the law, if enacted, will change the nature of the market and the economy as a whole, adding that there are economic factors that push countries that would put restrictions on their products thinking the establishment of factories for companies in Iraq to avoid the restrictions and taxes, and said that the phenomenon we need to assess our economy and make economies in the future in the context of modernization and development of system completion of the transaction customs Gen. Nofal that project to computerize the transaction information of customs is one of the main objectives the task that is seeking authority to accomplish the end of this year, will be able to Agents directing and merchants to complete transactions customs quickly record and will show the required data and the value of customs duties without any interference from the employee in determining the measurement procedures and fees imposed on commercial shipments, saying that the commission had completed all preparations to set up the electronic communication by the year 2011 and DFI is going ahead with proceedings obtain the approval of stakeholders, pointing that the project will allow the Office of the Commission relates that monitors video and audio all areas of customs and added that those two methods because of its significant role to reduce apparent financial and administrative corruption, especially as an employee customs in contact directly with traders and deal Mahmm directly is a leap the quality of administrative transactions in the style of government management.

As the Major-General the importance of rebuilding stores Centre customs to complete the concentric rings to work Alkmarki and said: "The Body in connection with the reconstruction of stores in the areas of customs, and these tasks are essential in the work of Alkmarki especially that all imports need to be laboratory tests are supposed to be stored Kmarkia pending the results of the examination laboratory proved its validity and the actual intervention and otherwise returned to the originator.

http://www.google.com/translate?u=http%3A%2F%2Fwww.alsabaah.com%2F&langpair=ar

[tampa1000]

Sounds like we may really see an RV by or before Jan 1............GO RV!!!!!!!!!!!!!!! Thanks Maximus....

Edited November 30, 2010 by tampa1000

[zantac]

there must be a viable tradable currency

Sorry Maximus am I missing something in this as I see no sign of any statement to do with a tradable currency.

This levy on imported goods has been the norm for many years in Iraq, I think you will find that you have posted the new legislation governing the way taxes are collected.

I think the start of this year someone posted similar to this.

If I am wrong I would appreciate it if you could help me out with the tradable currency bit

Cheers

Good find though

Edited November 30, 2010 by zantac

[whatsfordinar?]

Good Info!.....another domino falling to get us closer to RV.... if they would just quit adding dominos, this would get over faster....

[TimS]

Love the way you just jump to the conclusion that "there MUST be an RV".......if your thought on there must be a tradable currency is correct, that DOES NOT mean there has to be an RV.....there could be a LOP ......tradable means recognized on the world markets and on Forex.....doesn't have to mean an RV. I'm not sayin there won't be an RV, BUT how can you say like it's a fact that there will be an RV? Are you part of the iraqi government or CBI? They are the only ones who can say with certainty what WILL happen. Please....enough of this "gotta" stuff.......facts....facts.....just the facts ma'am.

[MPG350]

Love the way you just jump to the conclusion that "there MUST be an RV".......if your thought on there must be a tradable currency is correct, that DOES NOT mean there has to be an RV.....there could be a LOP ......tradable means recognized on the world markets and on Forex.....doesn't have to mean an RV. I'm not sayin there won't be an RV, BUT how can you say like it's a fact that there will be an RV? Are you part of the iraqi government or CBI? They are the only ones who can say with certainty what WILL happen. Please....enough of this "gotta" stuff.......facts....facts.....just the facts ma'am.

agree, nobody know but a few people know what is really going to happen

[DesertPete]

Another something to think about...

This is a tariff (tax) on trade. I don't think that they can do this while they are under Chapter 7. If they are able to do this wouldn't Iraq have to be out of Chapter 7 ? And, while it could be accomplished almost simultaneously, as I understand lifting of Chapter 7 requires a tradeable currency.

Welcome comments from someone with a more complete perspective.

All in all... a positive sign. IMO

[RVDinar4MyFamily]

posted earlier today twice...can we get a mod to combine these

http://dinarvets.com/forums/index.php?/topic/43418-economic-director-general-of-customs-morning-economic-coverage-of-goods-entering-iraq-under-the-law-of-leave/

[Rockstar]

Iraq will not be released from Ch7 until after they RV. There are many many posts on why this is 100% the case.

[RVDinar4MyFamily]

Iraq will not be released from Ch7 until after they RV. There are many many posts on why this is 100% the case.

I have seen many posts with that opinion, but have yet to see anything that can prove this as fact. Is there article or document that we can take a look at to show why this would be 100% the case as you say? Thanks

[DesertPete]

Iraq will not be released from Ch7 until after they RV. There are many many posts on why this is 100% the case.

That is what I also understand to be the case.

The next question is do they have the authority to impose a tariff (tax) of this nature without being released from Chapter 7. If not, then this implies that based on the necessary prerequisites there must be an RV before the tariff can go into effect. The document states that the tariff id to go into effect 1/1/2011.

[RVDinar4MyFamily]

That is what I also understand to be the case.

The next question is do they have the authority to impose a tariff (tax) of this nature without being released from Chapter 7. If not, then this implies that based on the necessary prerequisites there must be an RV before the tariff can go into effect. The document states that the tariff id to go into effect 1/1/2011.

I posted the same thing last night on this, and to go a step further is the question of was this already addressed by an executive order

On another site it is claimed that this article implies that there needs to be a "viable tradable currency" by 1/1/11 but I dont see it

HOWEVER...I do think this article does show soemthing when it comes to Chpt VII sanction because Iraq is not allowed to impose tariffs under the sanctions. So they might be expecting that the sanctions will be lifted by the eoy, and that is very good news.

I may be wrong and maybe this was address by a executive order already to allow Iraq to impose these tariffs w/o lifting of the full Chpt VII sanctions

[tobias1995bmw]

Sorry Maximus am I missing something in this as I see no sign of any statement to do with a tradable currency.

This levy on imported goods has been the norm for many years in Iraq, I think you will find that you have posted the new legislation governing the way taxes are collected.

I think the start of this year someone posted similar to this.

If I am wrong I would appreciate it if you could help me out with the tradable currency bit

Cheers

Good find though

Can you shut up mate?

[SFMS]

This might help...

Here you go: "Note: THIS is OFFICIAL as it has been posted in the Gazette. In order for goods to enter Iraq as of 1/1/2011…there must be a viable trade-able currency! .

Which means RV MUST occur anytime between this Sunday and Dec 31st".

This means that in order to trade goods with other countries, Iraq is going to have to do 2 things:

1. RV

2. Have Chapter 7 lifted and in order to have Chapter 7 lifted, they must RV.

This article also gives some income generation amounts from tariffs which will be a big money generator. Thus, giving more value to the Dinar.

Info from fatbob...

[hammer911]

Great Post Maximus... Acullay, no one knows when or how it will happen but the choosen few!!!Good info... Thanks!!!!GORV!!!~~~

[RVDinar4MyFamily]

This might help...

Here you go: "Note: THIS is OFFICIAL as it has been posted in the Gazette. In order for goods to enter Iraq as of 1/1/2011…there must be a viable trade-able currency! .

Which means RV MUST occur anytime between this Sunday and Dec 31st".

This means that in order to trade goods with other countries, Iraq is going to have to do 2 things:

1. RV

2. Have Chapter 7 lifted and in order to have Chapter 7 lifted, they must RV.

This article also gives some income generation amounts from tariffs which will be a big money generator. Thus, giving more value to the Dinar.

Info from fatbob...

That is just what the poster added and is his opinion of what the article implies, it is not part of the of the original article, where in the article itself does it imply that is what is being asked, I have read it many times now, and I see nothing that would imply that there must be a viable tradable currency in order for goods to enter Iraq.

[DmsC]

Love the way you just jump to the conclusion that "there MUST be an RV".......if your thought on there must be a tradable currency is correct, that DOES NOT mean there has to be an RV.....there could be a LOP ......tradable means recognized on the world markets and on Forex.....doesn't have to mean an RV. I'm not sayin there won't be an RV, BUT how can you say like it's a fact that there will be an RV? Are you part of the iraqi government or CBI? They are the only ones who can say with certainty what WILL happen. Please....enough of this "gotta" stuff.......facts....facts.....just the facts ma'am.

Right because the only time in history that a govt Lop's the currency is when the country is in hyper inflation. Wow that 3% inflation is just killing Iraq. So there is a fact for ya on the LOP matter. It doesn't have to RV this year or next or they may just let it run on the free market what ever it does the indicators are that it will increase in value. the GDP of Iraq is enormous and the money system they have will follow it that is another fact.

[ctoddy]

It could lop, just because it's been done in cases of high inflation, doesn't mean they can't. They want to get rid of the higher denominations that's a way to do it. They want to RV they RV. They want to let it float. They can let it float. That's not one I've looked at yet, but very possible. I appreciate you bringing that into the equation. Very possible.

[E. 1999]

It could lop, just because it's been done in cases of high inflation, doesn't mean they can't. They want to get rid of the higher denominations that's a way to do it. They want to RV they RV. They want to let it float. They can let it float. That's not one I've looked at yet, but very possible. I appreciate you bringing that into the equation. Very possible.

would the 25,000 d notes i have not be wort anything then? that statment worries me

[JayLee202]

Love the way you just jump to the conclusion that "there MUST be an RV".......if your thought on there must be a tradable currency is correct, that DOES NOT mean there has to be an RV.....there could be a LOP ......tradable means recognized on the world markets and on Forex.....doesn't have to mean an RV. I'm not sayin there won't be an RV, BUT how can you say like it's a fact that there will be an RV? Are you part of the iraqi government or CBI? They are the only ones who can say with certainty what WILL happen. Please....enough of this "gotta" stuff.......facts....facts.....just the facts ma'am.

LOL

What reason would there be a tradable currency with no RV? Would you trade yours without an RV? Just sayin

Edited November 30, 2010 by JayLee202

[Blue-Duck]

This for the Newbies to view to ease your minds!

Zeros Will Not be Removed from Iraqi Currency

Posted on 24 August 2010. Tags: forex, iraqi dinar, re-basing

There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the

last three zeros.

The lastest news is that Iraq will not in fact remove the zeros from its currency, because it will not resolve inflation and will create opportunities for corruption, reports AKnews, citing a senior source in Iraq’s ministry of finance and economics.

The Iraqi dinar was largely devalued after Iraq’s invasion of Kuwait in 1991 and the imposition of international sanctions on the country.

While before 1991, one Iraqi Dinar was equal to around $3, now $1 is worth roughly 1170 Dinars, according to Iraqi Central Bank’s exchange rates.

Some experts have suggested that removing the zeros will enhance the country’s currency and allow it to better tackle inflation.

“The Central Bank wanted to remove the zeros three years ago, we alleged that it was impossible. They wanted to do it again last year and we rejected the proposal again. The issue is currently brought up once again, but the Ministry of Finance and Economics insists that Zeros will remain,” said Fazil Nabi, the deputy minister of finance and economics.

Nabi said removing the zeros will not reduce the

inflation rates as Iraq’s inflation has been stable and remained low for quite some time.

“Besides, it will create problems for many citizens because it takes time for them to learn to use the new currency,” he said.

Nabi also stated that certain people will be harmed by removing the zeros because their salaries will decrease while it is unlikely that the price of goods in the markets would decrease. It is not clear to IBN how the minister came to this conclusion.

(Source: AKnews)

http://www.iraq-businessnews.com/2010/08/24/zeros-will-not-be-removed-from-iraqi-currency/

[E. 1999]

This for the Newbies to view to ease your minds!

Zeros Will Not be Removed from Iraqi Currency

Posted on 24 August 2010. Tags: forex, iraqi dinar, re-basing

There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the

last three zeros.

The lastest news is that Iraq will not in fact remove the zeros from its currency, because it will not resolve inflation and will create opportunities for corruption, reports AKnews, citing a senior source in Iraq’s ministry of finance and economics.

The Iraqi dinar was largely devalued after Iraq’s invasion of Kuwait in 1991 and the imposition of international sanctions on the country.

While before 1991, one Iraqi Dinar was equal to around $3, now $1 is worth roughly 1170 Dinars, according to Iraqi Central Bank’s exchange rates.

Some experts have suggested that removing the zeros will enhance the country’s currency and allow it to better tackle inflation.

“The Central Bank wanted to remove the zeros three years ago, we alleged that it was impossible. They wanted to do it again last year and we rejected the proposal again. The issue is currently brought up once again, but the Ministry of Finance and Economics insists that Zeros will remain,” said Fazil Nabi, the deputy minister of finance and economics.

Nabi said removing the zeros will not reduce the

inflation rates as Iraq’s inflation has been stable and remained low for quite some time.

“Besides, it will create problems for many citizens because it takes time for them to learn to use the new currency,” he said.

Nabi also stated that certain people will be harmed by removing the zeros because their salaries will decrease while it is unlikely that the price of goods in the markets would decrease. It is not clear to IBN how the minister came to this conclusion.

(Source: AKnews)

http://www.iraq-businessnews.com/2010/08/24/zeros-will-not-be-removed-from-iraqi-currency/

was that all for me

[JayLee202]

This for the Newbies to view to ease your minds!

Zeros Will Not be Removed from Iraqi Currency

Posted on 24 August 2010. Tags: forex, iraqi dinar, re-basing

There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the

last three zeros.

The lastest news is that Iraq will not in fact remove the zeros from its currency, because it will not resolve inflation and will create opportunities for corruption, reports AKnews, citing a senior source in Iraq’s ministry of finance and economics.

The Iraqi dinar was largely devalued after Iraq’s invasion of Kuwait in 1991 and the imposition of international sanctions on the country.

While before 1991, one Iraqi Dinar was equal to around $3, now $1 is worth roughly 1170 Dinars, according to Iraqi Central Bank’s exchange rates.

Some experts have suggested that removing the zeros will enhance the country’s currency and allow it to better tackle inflation.

“The Central Bank wanted to remove the zeros three years ago, we alleged that it was impossible. They wanted to do it again last year and we rejected the proposal again. The issue is currently brought up once again, but the Ministry of Finance and Economics insists that Zeros will remain,” said Fazil Nabi, the deputy minister of finance and economics.

Nabi said removing the zeros will not reduce the

inflation rates as Iraq’s inflation has been stable and remained low for quite some time.

“Besides, it will create problems for many citizens because it takes time for them to learn to use the new currency,” he said.

Nabi also stated that certain people will be harmed by removing the zeros because their salaries will decrease while it is unlikely that the price of goods in the markets would decrease. It is not clear to IBN how the minister came to this conclusion.

(Source: AKnews)

http://www.iraq-businessnews.com/2010/08/24/zeros-will-not-be-removed-from-iraqi-currency/

Good find. What we all must be mindful of is that fact that our dinars will not be turned back into Iraq. If there's no LOP then that would mean that we will not have a time window to cash them in. Our Dinars will be turned in to the Treasury by the banks we cash in at and then it gets handed over to the US Foreign Currency Reserves who will use the dinars to purchase Oil.