BondLady Chat 5/4/11

[DRV1804]

BondLady Chat 5/4/11 Today at 11:55 am

Sambo

ADMINISTRATOR

Posts: 74

Join date: 2011-04-10

Age: 62

Location: Colorado

my todays chat......

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[bondLady] we have been witnessing low and very low and extremly low actions as of late

[bondLady] the low actions are low and have been low

[bondLady] as the lower the auctions go is a sign of drying up the 000

[bondLady] but theres also another reason

[bondLady] and the other reason has basically imo just went into effect in the last few days

[bondLady] i need to take u back a bit 1st

[bondLady] remember when shabs kept sayin use the economy and the private sector for money dont borrow from the cbi

[bondLady] it would damage the reserves

[bondLady] then later he comes out as he was talkin about the removal of the 000 he says i gave a licence to 6 banks

[bondLady] right before that

[bondLady] we saw some private banks sayin

[bondLady] to the cbi to protect them against cash ins and money laundry and coruption

[bondLady] the cbi had told them also to raise there reserves

[bondLady] the private banks have cont to gripe about the cbi new policy towords private banks

[bondLady] and imo just in the last few days has been clearer on the object of this to me

[bondLady] so the cbi gave 6 banks license a few weeeks ago

[bondLady] notice in the last 2 days or so its been 6 banks partakeing in the auctions

[bondLady] this is because the other banks didnt do what the cbi said they had to do

[bondLady] was submit names an tax numbers of people who are buying currency

[bondLady] and they want the taxes due the state

[bondLady] so the cbi says ok u cant participate any more in the cbi auctions until u do this

[bondLady] cbi says we already know who the names are as we have sold u the currency but u have to submit the tax numbers to us so these people will pay the taxes due the state

[bondLady] this is what shabs can do for the private sector the economy because it has to do with the currency and shabs is in control of that

[bondLady] so these banks are bucking up and sayin no we have to protect our clients

[bondLady] and the cbis views imo is that we need to know whos buying large sums or sums of iqd to combat coruption and also watch out for funding of terrorism

[bondLady] and in the process suport the state tax wise

[bondLady] so we only see 6 banks partakeing in the auctions

[bondLady] these 6 banks was already approved by shabs

[bondLady] there records were in compliance as they had nothing to hide

[bondLady] sugesting these other private owned banks just might have

[bondLady] let me grab a article

[bondLady] Call for reform of the tax system Posted 02/05/2011 09:00 PM Call for reform of the tax system and improve the performance of circles of troops in front of the Central Bank of Iraq

[bondLady] see this

[bondLady] Call for reform of the tax system and improve the performance of circles of troops in front of the Central Bank of Iraq

[bondLady] Rana Haddad: The CBI called on the government to reform the tax system and improve the performance of Department of Taxation, the aim of easing the financial burden on citizens and create a state of citizenship in a tax payment of fees owed by them, having demonstrated a marked reluctance and evasion of them in this regard. The consultant said the central bank look for in an interview with Radio Iraq refractory period there is a clear flaw in the tax system after the reluctance of many to pay the tax, pointing to the need for there to be a fair, responsible and far from politics, through the institutional restructuring of the tax properly to correct the tax policy in Iraq to serve the citizen and is in favor of the institutional system.

[bondLady] For his part, confirms the director of companies in the General Commission for Taxes Karim Salem also confirmed real with the Commission to reform the tax system and its development in terms of adoption of the self-esteem, and awareness-raising tax, adding that achieving this needs to be concerted efforts of government and civil society organizations. The Salem that tax reform includes the two sides, the first development of tax administration, and second amendments to the tax structure so as to encourage investment and to preserve the national industry and reduce the burden on low-income, and provides investment climate appropriate as far as the tags, adding that attempts by the tax authority for the proposal Some of the legislation and laws for the correction of tax policy.

[bondLady] According to the director of companies in the form of taxes, the tax system in Iraq has witnessed major developments after 2003, most notably reducing the tax rate and the inclusion of salaries of state employees in addition to the deductions Khvz real estate tax http://www.babnews.com/i ··· ID=38448

[bondLady] this is also posted in my corner

[bondLady] this kind of explains what ive just touched on

[bondLady] i need to quickly show u another

[bondLady] 04/05/2011 Auction currency between the decision of the Central Association and the demands of private banks http://****************.w ··· =5216282

[bondLady] Called the Association of Banks on the need to reconsider the decision of the Central Bank, which prevent which the participation of any of the private banks in exchange auctions daily before the submission of statements of settling accounts tax them, at a time indicated the Association that the decision is contrary to confidential information of clients of the banks non-governmental organizations. MALE An official source at the Central Bank were among the most prominent of good that is being addressed at the present time is to create harmony between monetary and fiscal policy, which is the tax system one of the main pillars of those two policies, denying at the same time, the frequency of fears about rising inflation after the decline in sales of the Central of the dollar due to lack of participation of private banks, which did not disclose Thasabha tax, stressing that the bank's reserves of foreign currency of approximately $ 54 billion,

which contributed to strengthening the power of the dinar which he said was the strongest currencies in the region now ..

[bondLady] In the meantime, Director General of the reduced General of Taxation of the importance which he described as (natural), indicating that the private banks is a joint-stock companies what they must be settling accounts and tax according to tax law No. 113 of 1982 in force .. The central bank has asked the participants in the auctions daily currency held by the need for settling accounts tax as a condition to participate in those auctions, which led to a decline in sales of the Central of the dollar to reach without a $ 20 million, after the average sales in the periods that preceded the decision nearly 130 million in the words of his adviser, Dr. appearance of Mohammed Saleh, who said during his speech for the (morning) that the banking secrecy that some claim should be saved in the private banks should not intersect and the country's economic policy, describing the frequency of demands for cancellation of resolution or review by the being

contrary to the privacy of customers of private banks, b (words to be right for the wrong reasons), emphasizing those liabilities may contribute to the promotion of money laundering or it is hiding something more behind it ..

[bondLady] Saleh said also: The currency market is the market officially in Iraq, has been found for the purposes of intervention in the stability of the Iraqi dinar exchange rate, it is used as well as many indirect means to ensure exchange rate stability, and became the private sector depends directly on the financing of his business and his works from that auction , so it is natural to deal with the legality of other banks that participate in the daily Mzhadath, settling accounts and request the tax is nothing but a key part of the policy advocated by the central bank continuously ..

[bondLady] He also called for the need to create a kind of intimate relationship between the tax system and between the holders, stressing the importance of re-evaluation of some of the tax laws that can reflect the status of the trust Alachkad Balthacb charge of taxation and away from them the fears that haunt them from it .. And on fears of rising inflation due to falling sales of the Central of the dollar, between the benefit that the bank has the power as he can to reverse the country's financial stability, and has more measures that enable greater stability in the rates of prices in the provision of foreign currency, adding that the Iraqi dinar is now one of the strongest currencies in the region, and enhanced the magnitude of the volume of bank reserves, which it said amounted to approximately $ 54 billion ..

[bondLady] He explained that the Director General of Taxation Kazem al-Husseini during his speech for the (morning) that the economic activity in Iraq in all its forms is subject to the charge for tax, noting that private banks operate through the formation of companies, so they are subject So to the provisions of the Income Tax Act in force and that they must be continuously settling accounts with the Tax Authority ..

[bondLady] The al-Husseini, the roof tax in Iraq at 15 percent of the net profits of any economic activity, describing the ratio Balaoto compared to the rest of the neighborhood, which is subject to settling accounts of tax to legal action strict and rates are very high .. pointing out that the ceilings tax in Iraq does not pose any burden real process of capital accumulation to various economic activities as much as it is considered an investment in support .. In a reference to the implications of Central Bank's decision to reduce the possibility of investment activities of private banks mentioned by a number of stakeholders in the matter between Husseini said talking about negative effects can be triggered by the tax system to limit economic activities, including the work of private banks is lacking in accuracy and objectivity

[bondLady] According to the Director General of Taxation, the rate of 15 percent of the net profit is the amount of settling accounts tax is in many countries within the (advantages and tax incentives) will be granted only to economic activities that are meant to encourage, while in Iraq, giving the general economic activities other than oil in order to encourage .. In turn, called the Association of private banks (an association working to unify the work of private banks in the whole of Iraq and seeks to organize its work can contribute to the economic process is an active and influential) demanded that the Central Bank of the importance of stopping the resolution or review by, the Association claimed on the lips of CEO that intersects the resolution and confidential banking information to customers in particular .. Abdul Aziz al-Hassoun during the interview with the (morning): The central bank asked banks on the need to settling accounts tax has

greatly impacted on the size of private banking in Iraq, especially in the field of foreign exchange, adding that many of the dealers with the private banks are reluctant to provide any information about their tax as well as the move is contrary to the confidentiality of private banking, according to Hassoun .. He opposes laws goldfinch private banking with a central bank which provided not allowed to disclose information on clients of banks, but to the judicial authorities and the decision of the court .. Stressing that the commitment of private banks to provide data on their customers is a violation does not allow its norms professional banking business, as well as caused by the reluctance of clients and customers of those banks, is that the worst that can result from the decision by the Executive Director of the Association of private banks is to resort customers to the routes may be illegal to transfer money abroad, and received without recourse to

the banking system in the country,

[bondLady] He pointed out that this matter has already started on the ground is evidence of decline in central bank sales, which represents the bulk of foreign remittances .. http://translate.googleu ··· lheEe5TA

[bondLady] i realise this was a long read

[bondLady] but it was important

[bondLady] as it basically says all i said above annd more

[bondLady] but even tho this has just came about

[bondLady] thats not the whole reason of the decline of sales at the auction

[bondLady] because we have been getting low auctions already for some time

[bondLady] so this may be a part of it the rest is because of the drying up of the 000 and people hordeing them knowing a new rate is comeing

[bondLady] these tax laws imo was also part of the law shabibi wrote and submitted to the goi and the goi gave to the house of reps this goes right along with my 1,2,3 to rv

[bondLady] these things were put in place to protect the cbi and iraq and us also from terrorist useing the iqd to bring acts of terror not only to iraq but to the rest of the world

[bondLady] by makeing them show names and tax codes this lets the gov know who hasnt paid taxes and who needs to plus also follows them around in case they do suport terror

[bondLady] also with our us treasury giveing brokers here new laws

[bondLady] like we cant cash out for others

[bondLady] they have to do it for them selves

[bondLady] this insures the usa of getting there tax dollars

[bondLady] at cash in

[bondLady] and also lets big brother make sure we arent funding terror

[bondLady] undersatnd?

[bondLady] all these things go together with our rv

[bondLady] these are security measure put in place no matter what any 1 wants to call it its about the money and fight on terrorism and coruption

[bondLady] remember the ustreasury stayed in iraq for a while the ust just came home recently

[bondLady] and when they did what happened

[bondLady] they contacted the brokers like ali

[bondLady] and told them no cashin in for others

[bondLady] etc and the rest i dont have time to go into

[bondLady] but these things shows us huge progress

[bondLady] and were at the door here for our blessing

[bondLady] and i cannot see it being very long wait for us aqnd for iraqs blessing to come

[bondLady] i hope ive helped u all in understanding these things

[bondLady] i hope ive helped u all in understanding these things

[bondLady] ty all hands the mic to peak an walks off

[bondLady] if u compare what shabs is sayin to what the us treasry came back and did to brokers like ali doesnt it?

[bigpuller] BondLady it makes perfect sense and they must be agreeing to it cause there were 12 banks involved in this mornings auction

[bondLady] this may move on ahead of the ministers i dunno

[bondLady] but i know shabibi guards inflation

[bondLady] and inflation is runnin strong

[bondLady] and they just raised the price of things like

[peakdinar] grain

[bondLady] wheat rice barley corn etc because of the floods

[bondLady] this also will bring more inflation

[bondLady] that law was passed yesterday

[bondLady] remember the ration items because was so much for so many millons of people

[bondLady] this also caused a spike in inflation

[bondLady] then u have high electricity bills

[bondLady] also causeing spikes in inflation

[bondLady] and the list goes on and the drying up of the currency

[bondLady] and now theve dedollarized

[bondLady] there not to use usd

[bondLady] so we see the door slowly opening for a new rate and the lower denominations to come out

[bondLady] see how all these things go together?

Call for reform of the tax system

Posted 02/05/2011 09:00 PM

Call for reform of the tax system and improve the performance of circles of troops in front of the Central Bank of Iraq

Rana Haddad: The CBI called on the government to reform the tax system and improve the performance of Department of Taxation, the aim of easing the financial burden on citizens and create a state of citizenship in a tax payment of fees owed by them, having demonstrated a marked reluctance and evasion of them in this regard.

The consultant said the central bank look for in an interview with Radio Iraq refractory period there is a clear flaw in the tax system after the reluctance of many to pay the tax, pointing to the need for there to be a fair, responsible and far from politics, through the institutional restructuring of the tax properly to correct the tax policy in Iraq to serve the citizen and is in favor of the institutional system.

For his part, confirms the director of companies in the General Commission for Taxes Karim Salem also confirmed real with the Commission to reform the tax system and its development in terms of adoption of the self-esteem, and awareness-raising tax, adding that achieving this needs to be concerted efforts of government and civil society organizations.

The Salem that tax reform includes the two sides, the first development of tax administration, and second amendments to the tax structure so as to encourage investment and to preserve the national industry and reduce the burden on low-income, and provides investment climate appropriate as far as the tags, adding that attempts by the tax authority for the proposal Some of the legislation and laws for the correction of tax policy.

According to the director of companies in the form of taxes, the tax system in Iraq has witnessed major developments after 2003, most notably reducing the tax rate and the inclusion of salaries of state employees in addition to the deductions Khvz real estate tax

http://www.babnews.com/inp/view.asp?ID=38448

................

Iraq's Banking and Taxes ~ Auction currency between the decision of the Central Association and the demands of private banks

04/05/2011

Auction currency between the decision of the Central Association and the demands of private banks

بغداد-حيدر فليح الربيعي BAGHDAD - Haider al-Rubaie Filaih

Called the Association of Banks on the need to reconsider the decision of the Central Bank, which prevent which the participation of any of the private banks in exchange auctions daily before the submission of statements of settling accounts tax them, at a time indicated the Association that the decision is contrary to confidential information of clients of the banks non-governmental organizations.

MALE An official source at the Central Bank were among the most prominent of good that is being addressed at the present time is to create harmony between monetary and fiscal policy, which is the tax system one of the main pillars of those two policies, denying at the same time, the frequency of fears about rising inflation after the decline in sales of the Central of the dollar due to lack of participation of private banks, which did not disclose Thasabha tax, stressing that the bank's reserves of foreign currency of approximately $ 54 billion, which contributed to strengthening the power of the dinar which he said was the strongest currencies in the region now ..

In the meantime, Director General of the reduced General of Taxation of the importance which he described as (natural), indicating that the private banks is a joint-stock companies what they must be settling accounts and tax according to tax law No. 113 of 1982 in force ..

The central bank has asked the participants in the auctions daily currency held by the need for settling accounts tax as a condition to participate in those auctions, which led to a decline in sales of the Central of the dollar to reach without a $ 20 million, after the average sales in the periods that preceded the decision nearly 130 million in the words of his adviser, Dr. appearance of Mohammed Saleh, who said during his speech for the (morning) that the banking secrecy that some claim should be saved in the private banks should not intersect and the country's economic policy, describing the frequency of demands for cancellation of resolution or review by the being contrary to the privacy of customers of private banks, b (words to be right for the wrong reasons), emphasizing those liabilities may contribute to the promotion of money laundering or it is hiding something more behind it ..

Saleh said also: The currency market is the market officially in Iraq, has been found for the purposes of intervention in the stability of the Iraqi dinar exchange rate, it is used as well as many indirect means to ensure exchange rate stability, and became the private sector depends directly on the financing of his business and his works from that auction , so it is natural to deal with the legality of other banks that participate in the daily Mzhadath, settling accounts and request the tax is nothing but a key part of the policy advocated by the central bank continuously ..

He also called for the need to create a kind of intimate relationship between the tax system and between the holders, stressing the importance of re-evaluation of some of the tax laws that can reflect the status of the trust Alachkad Balthacb charge of taxation and away from them the fears that haunt them from it ..

And on fears of rising inflation due to falling sales of the Central of the dollar, between the benefit that the bank has the power as he can to reverse the country's financial stability, and has more measures that enable greater stability in the rates of prices in the provision of foreign currency, adding that the Iraqi dinar is now one of the strongest currencies in the region, and enhanced the magnitude of the volume of bank reserves, which it said amounted to approximately $ 54 billion ..

He explained that the Director General of Taxation Kazem al-Husseini during his speech for the (morning) that the economic activity in Iraq in all its forms is subject to the charge for tax, noting that private banks operate through the formation of companies, so they are subject

So to the provisions of the Income Tax Act in force and that they must be continuously settling accounts with the Tax Authority ..

The al-Husseini, the roof tax in Iraq at 15 percent of the net profits of any economic activity, describing the ratio Balaoto compared to the rest of the neighborhood, which is subject to settling accounts of tax to legal action strict and rates are very high .. pointing out that the ceilings tax in Iraq does not pose any burden real process of capital accumulation to various economic activities as much as it is considered an investment in support ..

In a reference to the implications of Central Bank's decision to reduce the possibility of investment activities of private banks mentioned by a number of stakeholders in the matter between Husseini said talking about negative effects can be triggered by the tax system to limit economic activities, including the work of private banks is lacking in accuracy and objectivity ..

According to the Director General of Taxation, the rate of 15 percent of the net profit is the amount of settling accounts tax is in many countries within the (advantages and tax incentives) will be granted only to economic activities that are meant to encourage, while in Iraq, giving the general economic activities other than oil in order to encourage ..

In turn, called the Association of private banks (an association working to unify the work of private banks in the whole of Iraq and seeks to organize its work can contribute to the economic process is an active and influential) demanded that the Central Bank of the importance of stopping the resolution or review by, the Association claimed on the lips of CEO that intersects the resolution and confidential banking information to customers in particular ..

Abdul Aziz al-Hassoun during the interview with the (morning): The central bank asked banks on the need to settling accounts tax has greatly impacted on the size of private banking in Iraq, especially in the field of foreign exchange, adding that many of the dealers with the private banks are reluctant to provide any information about their tax as well as the move is contrary to the confidentiality of private banking, according to Hassoun ..

He opposes laws goldfinch private banking with a central bank which provided not allowed to disclose information on clients of banks, but to the judicial authorities and the decision of the court ..

Stressing that the commitment of private banks to provide data on their customers is a violation does not allow its norms professional banking business, as well as caused by the reluctance of clients and customers of those banks, is that the worst that can result from the decision by the Executive Director of the Association of private banks is to resort customers to the routes may be illegal to transfer money abroad, and received without recourse to the banking system in the country,

He pointed out that this matter has already started on the ground is evidence of decline in central bank sales, which represents the bulk of foreign remittances ..

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&u=http://www.alsabaah.com/ArticleShow.aspx%3FID%3D6968&prev=/search%3Fq%3Dwww.alsabaah.com%26hl%3Den%26client%3Dmozilla%26rls%3Dorg.mozilla:en-US:unofficial&rurl=translate.google.com&twu=1&usg=ALkJrhiM2lujWwS_pgtC_QNT4zlheEe5TA

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PRAYER - don't leave home without it

[Teresa82]

Great read thank you!

[Danielsan]

Thanks for the post. Very long read, but very good opinion, IMO.

[Darin]

Bondlady is always good about taking a bunch of articles and showing how they relate and letting us see the bigger picture.

It is usually pretty extensive reads, but, she provides links to back-up her information. She backs a lot of knowledge..

Thanks for bringing this to DV >

[lionfish]

A good thorough post, and backed up with the articles! Thanks!

Now...RV there yet?

[glo]

thank you for the post !!!

[readyfor3rdgear]

Thanks for the post BondLady....Very informative..

[BW3]

You Gotta love BondLady's detail.... Always backs up what she is saying with articles for her proof of understanding of what they are saying or rather trying to read between the lines sometimes...

THANKS FOR THE POST DRV1804

GO RV!!!!!!!!!!!!!!!!!!!!!!!!

[kwg]

I'm tired but that was good

[smitty4rv]

Al-yasseri: Parliament agreed to raise grain prices

http://www.microsofttranslator.com/bv.aspx?from=ar&to=en&a=http%3A%2F%2Fwww.ikhnews.com%2Fnews_view_12817.html

http://www.ikhnews.com/news_view_12817.html

[capt.cliff]

I have another silly question can anyone provide why in the last few weeks the CBI granted new licenses to 6 new banks---I read here that were only 7 or 8 prior to that---now if these new banks had to conform to the banking laws then all is well , the others [long shot I know] might have been excluded is not for tax reasons[maybe true] but to increase the number of banks and thier reserves to service the poplulation of Iraq ---more availabilty for the citizens to access the new system and trust more than thier pocket books and hording thier dinar- avoid the long lines--they certainly are not going to use the atm , debit card, they will want to look at a face and feel trust and be happy!

Silly I know but still a possibility-- is this part of the education happening and needing more banks, branches and TRUST!

cc