Taxes and tariffs law soon to be implemented in Iraq

[suntiger]

http://www.alsumaria.tv/en/Iraq-News/1-66935-Taxes-and-tariffs-law-soon-to-be-implemented-in-Iraq.html

Tuesday, July 26, 2011 13:17 GMT

Taxes and tariffs law soon to be implemented in Iraq

Iraq’s ministerial council announced on Sunday that the law of taxes and tariffs that will include mainly imported goods and products which can be manufactured locally.

The products and goods that are directly consumed by the people will be exempted from tariffs, the ministerial council confirmed.

In a statement to Alsumarianews, ministerial council economic advisor Abdul Hussein Al Ankabi stressed that the law of taxes and tariffs is an important and essential law that will be implemented soon noting that the products which are increasingly consumed by citizens will be exempted from taxes and tariffs.

Goods that are highly subject to tariffs and taxes are products that can be manufactured locally but are not due to competition and prevalent imported goods. The taxes law is a corrective law that will help local products and industries, Al Ankabi said.

Iraq’s government announced on February 21 that it has decided to suspend the law of increasing taxes on imported goods which was expected to be implemented in March. The law was suspended until further notice.

At the end of January, the Iraqi government issued a decision to implement tariffs on imported goods starting February. The legal advisor of Prime Minister Nuri Al Maliki announced however that the government might not rush the decision implementation in fear of a price drop in local markets.

This decision requires legislation from Parliament, the adviser concluded.

[dinar_millions]

Tuesday, July 26, 2011 13:17 GMT

Taxes and tariffs law soon to be implemented in Iraq

Iraq’s ministerial council announced on Sunday that the law of taxes and tariffs that will include mainly imported goods and products which can be manufactured locally.

The products and goods that are directly consumed by the people will be exempted from tariffs, the ministerial council confirmed.

In a statement to Alsumarianews, ministerial council economic advisor Abdul Hussein Al Ankabi stressed that the law of taxes and tariffs is an important and essential law that will be implemented soon noting that the products which are increasingly consumed by citizens will be exempted from taxes and tariffs.

Goods that are highly subject to tariffs and taxes are products that can be manufactured locally but are not due to competition and prevalent imported goods. The taxes law is a corrective law that will help local products and industries, Al Ankabi said.

Iraq’s government announced on February 21 that it has decided to suspend the law of increasing taxes on imported goods which was expected to be implemented in March. The law was suspended until further notice.

At the end of January, the Iraqi government issued a decision to implement tariffs on imported goods starting February. The legal advisor of Prime Minister Nuri Al Maliki announced however that the government might not rush the decision implementation in fear of a price drop in local markets.

This decision requires legislation from Parliament, the adviser concluded.

http://www.alsumaria.tv/en/Iraq-News/1-66935-Taxes-and-tariffs-law-soon-to-be-implemented-in-Iraq.html

[bamagirl]

I thought this was implemented on July 15?

[Dalite]

Tariffs will increase the price of imported goods, so local manufacturing and farming can get a foot hold.

No one is going to pay more for a locally produced product when an import is priced noticeably lower.

This is the concept of tariffs.

Why Maliki continues to suppress growth in manufacturing and agricultural is beyond comprehension.

He is still considering delaying the implementation; once again.

Maliki has absolutely zero concern for anything that doesn't directly benefit Maliki.

One of these days, someone is going to catch on to what is going on, and he is going to be the proud recipient of a 7.62x39 Special Delivery.

I hope his insurance covers lead poisoning.

[acceb75]

Tariffs will increase the price of imported goods, so local manufacturing and farming can get a foot hold.

No one is going to pay more for a locally produced product when an import is priced noticeably lower.

This is the concept of tariffs.

Why Maliki continues to suppress growth in manufacturing and agricultural is beyond comprehension.

He is still considering delaying the implementation; once again.

Maliki has absolutely zero concern for anything that doesn't directly benefit Maliki.

One of these days, someone is going to catch on to what is going on, and he is going to be the proud recipient of a 7.62x39 Special Delivery.

I hope his insurance covers lead poisoning.

I'm pretty sure Shabibi has his number and is making plans accordingly. Shabibi seems to be a very smart man,

[greengrass8888]

How much tax would you pay on toilet paper!!

[darleneR]

I thought this was implemented on July 15?

Iraqi customs recorded a rise in revenues over last June

Baghdad, July 17,2011 (Rn) – The Directorate General of Customs Iraq on Sunday, the arrival of its revenues from the border crossing points during the month of June last to 32 billion Iraqi dinars, an increase rate of about one billion dinars from the previous month.

The Director General of Customs, Major General Salim Nawfal Kurdistan News Agency (Rn) that “Iraq’s revenues from the customs border for the month of June amounted to 32 and a half billion Iraqi dinars from all border crossing points.”

The revenue of the General Customs border crossing points during the month of May / May 31 billion and 669 million dinars.

The Iraqi Council of Representatives passed a new law of customs tariff, but it was not enforced until now, the law imposes fees in force increased by 5% of the value of goods imported to the country.

He pointed to a sound that “the Directorate General of Customs has quickly record the financial statements of the proceeds of the border for the month of June in order to input into the budget of the Iraqi state in 2011.”

He said the “Directorate relies on sophisticated electronic mechanisms for the registration of financial returns from entering Iraq border crossings and ports of cargo mission.”

Linked to Iraq with neighboring countries through 13 ports of a border, in addition to five ports and air five outlets freely, most notably the port Abraham with Turkey, and an outlet newborn and Rabia with Syria, and port Trebil with Jordan, and port Arar Saudi Arabia, and an outlet Shalamjah and Mundhiriyah with Iran.

The flow of foreign goods on the Iraqi market since the lifting of the siege in 2003.

But the Iraqis often complain about the goods enter the corrupt or expired to the markets of the country as a result of poor quality control at border crossings as well as the presence of corruption.

And the intervention of Iraq, large quantities of canned food, soft drinks, meat and vegetable oils and cheeses, as well as household items, electrical appliances, from Arab and foreign countries such as Syria, Egypt, Iran and China, through the ports in Iraq border, are not subject to these materials in most cases to check confirms the suitability for use.

PASSED A NEW LAW OF CUSTOM TARRIFS WAS ENFORCED ON JULY 17, 2011

[Dalite]

How much tax would you pay on toilet paper!!

Is that a trick question?

Assuming they use toilet paper, it is a self-regulating exchange. When it gets too expensive, go to plan B, just be careful which hand you eat with in public.

If you are talking about Dinar, I have never considered Iraq's currency to be toilet paper.

But the question deserves an answer, and the currency sellers haven't had much trouble making 30% on the spread.

We have a similar situation locally with shrimp.

Typically, coastal towns in this part of the country have Shrimpers.

The cost of diesel fuel, combined with the influx of lower cost, pond raised shrimp from the Orient has cut deeply into this tradition.

If we continue to be bombarded with lower cost imported shrimp, or worse, jelly plankton processed to absorb the flavor of shrimp, and used as filler, the entire tradition of the family run Shrimp boat may disappear from our culture.

The US has a fairly durable production base. It has suffered from cheap imports, but has survived; so far.

Iraq needs a chance to rebuilt their production capabilities to the point that they can compete against cheaper imports. Tariffs offer this chance.

Jamaica, in the West Indies, is a prime example of a country that refused tariffs. They are now far more reliant on Tourism, and have nearly given up on farming. Only Blue Mountain Coffee from the Mavis Bank area seem to have survived as a specialty product. Jamaican Rum is still a commodity, but it is a byproduct of the last use of a sugar cane product, and there is a distinct lack of Jamaican sugar as an export. What was a successful progression of cane groves producing sugar, syrup, and finally Rum, now only has the latter. The other two were replaced with cheaper imports.

Edited July 26, 2011 by Dalite

[swaneray]

Thanks everybody for the information.

[Soledad]

Taxes and tariffs law soon to be implemented in Iraq

Tuesday, July 26, 2011 13:17 GMT

Taxes and tariffs law soon to be implemented in Iraq

Iraq’s ministerial council announced on Sunday that the law of taxes and tariffs that will include mainly imported goods and products which can be manufactured locally.

The products and goods that are directly consumed by the people will be exempted from tariffs, the ministerial council confirmed.

In a statement to Alsumarianews, ministerial council economic advisor Abdul Hussein Al Ankabi stressed that the law of taxes and tariffs is an important and essential law that will be implemented soon noting that the products which are increasingly consumed by citizens will be exempted from taxes and tariffs.

Goods that are highly subject to tariffs and taxes are products that can be manufactured locally but are not due to competition and prevalent imported goods. The taxes law is a corrective law that will help local products and industries, Al Ankabi said.

Iraq’s government announced on February 21 that it has decided to suspend the law of increasing taxes on imported goods which was expected to be implemented in March. The law was suspended until further notice.

At the end of January, the Iraqi government issued a decision to implement tariffs on imported goods starting February. The legal advisor of Prime Minister Nuri Al Maliki announced however that the government might not rush the decision implementation in fear of a price drop in local markets.

This decision requires legislation from Parliament, the adviser concluded.

http://www.alsumaria.tv/en/Iraq-News/1-66935-Taxes-and-tariffs-law-soon-to-be-implemented-in-Iraq.html

[TexasGranny]

Already posted - this is a duplicate post.