Iraq’s income will diversify in 2014, says ISX Commission Chairman

Posted by on Jan 07, 2014 | Leave a Comment

Implementation of the tariff law a sources
of Baghdad – the joy of pumice projections indicate that the year 2014 will see the diversity of its revenue, especially after the application of the tariff law, as well as the pursuit of the competent authorities to mechanize the income tax and other taxes.

Mechanization taxes Chairman of the Securities Commission, Dr Abdul Razzaq Saadi said the “morning”: that “this year will bring a diversity of revenue budget, especially with the start of the tariff law, in addition to the possibility of the automation of income tax and other taxes, to contribute to the diversity of the budget, and the reduction of property rent economy unilateral,” and expressed hope to the advancement of the sector revenue and work on activated efficiently and impartially and to help the general budget and the multiplicity of its resources.

noted that the Council of Ministers has approved the establishment of the Ministry of Finance to apply the tariff law in its 51st meeting held on December 10, 2013, as the application of the law on several stages and does not include stage The first food and construction materials, clothing and agricultural supplies and materials related to the domestic industry. determinants production and supported al-Saadi activate the tariff law and work, and that at the present time is the industry late for several reasons, including lack of energy and the security situation, noting that to encourage these sectors need to be initiated by law tariff phase after the other, but there is an obstacle or a shortage of law, a quality control on the materials involved, as it has to be activated properly to be applied tariff law correctly, too.

serve the citizens considered activating this law service to the citizen and does not constitute any harm to him or to the economy Iraq, especially that in the past there were tax reconstruction of 10 percent, indicating that the tariff is not automatic, as it is applied to the goods is necessary to push teams amounts owners layers of high-income, and thus will benefit the owners of the poor and low income. operation employment and position as head of the Securities Commission encourages Saadi on investment, which leads to an active movement in the employment and development of the Iraqi economy, which reduces unemployment and supports the development process. Kurdistan region has Ministry of Finance announced Thursday the application of tariff law which threatens a substantial increase in the price of imported goods, while confirming the General Company for Ports importance of law enforcement in all border crossing points, including the Kurdistan region, so as not to refrain traders importing goods through ports, and expressed Importers & Merchants protest against the increase of tariffs. five ports should be noted that Iraq has five commercial ports all of which are located in the province of Basra rim of the far south of the Arabian Gulf, and the oldest of those ports port stronghold near the city center, which was created in 1914, either in 1965 was the establishment of the port of Umm Qasr, which announced the Ministry of Transport in 2010 for the cut in the two ports south and north, while the year saw the 1989 completion of construction of the port of Khor Al-Zubair, one of the ports of the second generation because it contains sidewalks industrial and warehouses for iron ore, phosphate, urea, and in 1976 was the establishment of the port of Abu Flus on the west bank of the Shatt al-Arab within the district of Abu Fertile, a port Small is characterized by its ability to accommodate large ships because of the deterioration of the depths of the Shatt al-Arab, and especially at its entrance, and as well as commercial ports include conservative outlet ground with Iran, and the last is the only one between Iraq and Kuwait.

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