View Full Version : Finance Committee 03-28-2015

03-28-2015, 09:26 PM
Finance Committee: Ttrat government taxation and wait for the opinion of the judiciary in the budget appeals

BAGHDAD / Mohammad Sabah

Parliamentary Finance Committee confirmed that the budget law went into effect with the exception of 19 items the government intends to appeal where, despite the denial of access to the nature of the government appeals.

As I talked about stabbing another made ​​by the Central Bank on the budget materials, confirmed receipt of Parliament address of the Federal Court in this regard.
The members of the Committee that the non-arrival of the oil our production to the ceiling specified in the budget in addition to the drop in oil prices, abort the government's efforts to tackle the fiscal deficit.
and the voice of the House of Representatives, in the month of January on the draft federal budget law for 2015, worth in excess of Al119 trillion dinars and a deficit of about 25 trillion.
and imposed the federal budget for the implementation of the reform measures strict include austere in investment projects, and a commitment to reducing expenses, and reconsider the limits of sales Bank Central to the achievement of the currency oil exports of 3.3 million barrels per day at a price of $ 56 a barrel. He says Jabbar Abdul Khaliq, a member of the Parliamentary Finance Committee, said the committee "has received since the appeals of the Central Bank on the draft budget submitted to the decision by the Federal Court Act," noting that "the central challenges relate to the roof of the sale of hard currency and not subject to some of the banks to the instructions of the Central Bank." .
He said Abdul Khaliq, told the "long", that "the appeals government include all the materials that have been added by the Finance Committee and consisting of 19 articles in the draft general budget, which is voted on by the House of Representatives," the law, but he stressed that "non-receipt of the Finance Committee book includes appeals government materials budget. "
The voice of the Council of Ministers, early this March, the "filing an appeal in the legal material added by the House of Representatives on the budget 2015 law, which has not been submitted to the Cabinet was provided in the draft submitted to the House of Representatives."
explains MP for the coalition state law, saying that "the most important points that will be challenged, distributed in more than one side of each deals with reducing the three presidencies expenses of automotive supplies service, maintenance and installation of the contracts and the subject of transfers staff self-financing companies within the ministry."
The official government spokesman Saad al-Sabri said that " General Secretariat of the Council of Ministers formed legal committees competent working on a challenge by creating the technical procedures for the completion of the submission to the Federal wisdom in the nearest time. " (I thought the appeal to the Federal Court was already made - - maybe not.)

confirms a member of the Parliamentary Finance Committee that "the general budget went into effect immediately after publication in the Gazette facts but applied to the ground is different between the Ministry and the other is based on cash flow, according to the actual have the need, "adding that" the implementation of the budget law has become a duty to abide by it except for material that would appeal by the government pending the outcome of that before the Federal Court. "

On the tax application mentioned in items Budget, Deputy Jabbar Abdul Khaliq says that "the government believes that the imposition of the tax depends on what you need the government," pointing out that "the tax is not implemented by now the government, despite entering the budget into effect."
Abdul Khaliq He continues that "if oil prices remain low level and non-compliance with export ceilings, as evidenced in the budget, the deficit will rise. "
In the same context, denied Abdulkadir Mohamed, the other member of the Finance Committee, aware of his committee the possibility of an appeal the government materials and paragraphs federal budget for the 2015 law.
confirms Muhammad that "the Legal Committee Parliamentary submitted a reply to the list of about a query Court on appeals made ​​by the central bank. "

draws a Kurdish lawmaker, said in an interview with the "long", that "the House of Representatives is expected decision and decide these appeals filed by the central bank on some of the draft budget materials of the Federal Court." . And on the source quantities of oil by the oil ministry, says MP from the Patriotic Union of Kurdistan block, that "the export value of crude oil approaching three million barrels per day," stressing that "the lack of production and low prices affect directly on the proportion of the deficit," he stresses. " presence holds an increase in the proportion of production and export of oil over the past few days. "

03-28-2015, 09:27 PM
Central Bank decides to meet the 8% tax rate and customs through banks

Author: ASJ, BS
Editor: BS
28/03/2015 12:44

Long-Presse / Baghdad

Decided to CBI, on Saturday, to approve the meet 8% of the taxes and customs special rate Bakiem imports by private banks, while the Association of Iraqi banks suggested that this decision reflected positively on the Iraqi economy and the private sector.

The executive director of the Association of Iraqi banks Ali Tariq's (to the extent Press), "The Association held meetings going on and meetings with the concerned authorities of the Central Bank and the bodies of taxes and customs in order to stand on the recent decisions on obtaining the tax and customs own Balastairadat through private banks Iraq," noting that "debates has with these entities as well as specialists in the banking sector to find a mechanism to pay for these benefits through private banks."

He said Tariq that "those discussions and meetings yielded results can be described as good by setting rates and clear of taxes and customs are fulfilled through banks," he said, adding that "the central bank recently issued a decision in agreement with the bodies of customs and taxes allows for private banks completing 8% of Akiem taxes and customs own Balastairadat dispersed about 5% for Customs and 3% for taxes. "

Executive Director of the Association of Iraqi banks and stressed that "the final decision on where to locate ratios is a good compared to the first resolution passed on imports, without specifying the descent", pointing out that the decision could be supporting the Iraqi economy and the private sector. "

The central bank may impose a special program of tax and customs guarantees for goods, while among banking and economic shown that this procedure came under the guidance of the Council of Ministers to determine the work of traders and keep them away from illegal transactions in foreign currency smuggling.

The CBI had announced his statement Tuesday (March 24, 2015) for the approval of the Economic Committee of the Council of Ministers on the central bank to accept a proposal issued by private banks instruments to pay all taxes and fees and without a fixed roof.

03-28-2015, 10:13 PM
8% ??? Corporation tax for banks ? (though all banks were exempt from corporation tax)