IMF puts a plan to improve Iraq's revenues from taxes

04/27/2017



Representatives of the Iraqi private sector discussed with a delegation from the International Monetary Fund, the recent approval of a loan for Iraq to pay off the arrears to contractors and suppliers of Iraqis and peasants, and the ways to solve this problem, given the importance in stabilizing the economy.

He asked the deputy head of the International Monetary Middle East Fund and the Asia Christiaan nut at the meeting, which was held in Baghdad about the possibilities that increase state revenues, including the activation of taxes and those imposed on non-oil products, pointing out that the tariffs were between 5 and 10 per cent, considering it It is not the correct way in which the customs revenues collected, and stressed the need to change this way of up to 30 per cent.

He said that faster gains and revenues resulting from the regulation and taxation unit, and these significant revenue achieved as imposing on a slide adult merchants.

Nut and called for a hiring freeze until the development of management, because the high proportion of staff in the civil service was a way to satisfy some of their employment without regard to efficiency, this system will lead to a deficit over the next ten years.

He pointed to the problem of the weakness of the banking sector and the importance of strengthening business through Rafidain Bank restructuring and good government, and wide open space in front of private banks with the need to assess the weaknesses and the correct foundations for the fight against money laundering, you can resort to the Integrity Commission and specialized organizations.

He noted the progress made by the Office of Financial Supervision in the audit of transactions audited.

He explained the economic expert Ibrahim al-Baghdadi, in an intervention that Iraq began levied customs tariff, which increased its resources in some customs ports to more than 30 times, and the collection of electricity increased 20 times, and referred the Ministry of Electricity to collect electricity fees on companies under investment contracts, and began to show results positive.

He stressed that the payment of dues will move the market wheel handles weak cash liquidity in the markets, which affected the per capita income and small business level.

The head of the Federation of Iraqi Contractors Ali Snava, the launch of arrears transactions audited by the Office of Financial Supervision.

He said that the Contractors Union comprises 34 thousand contractors, and gets a large part of their suffering in the tax calculation stage, because the amounts of tax deductions are reserved to the provinces.

And considered the economic researcher Lubna al-Shammari, the banking sector reform is a gateway to diverse investments to Alarac.

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