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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq introduces Tax Incentives for Point-of-Sale (POS) Terminals

    Rocky
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    • Post n°1

    Iraq introduces Tax Incentives for Point-of-Sale (POS) Terminals Empty Iraq introduces Tax Incentives for Point-of-Sale (POS) Terminals

    Post by Rocky Fri 20 Jan 2023, 9:27 am

    Iraq introduces Tax Incentives for Point-of-Sale (POS) Terminals

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    20th January 2023 in [You must be registered and logged in to see this link.], [You must be registered and logged in to see this link.], [You must be registered and logged in to see this link.]

    By John Lee.
    The Iraqi Cabinet has approved the recommendations of the Ministerial Council, encouraging the use of electronic point-of-sale (POS) terminals.
    The use of electronic transactions has been shown to improve security, efficiency and convenience for retailers and customers.
    Specifically, the cabinet approved the following measures:
    [list="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; line-height: 1.5em; padding: 10px 0px 35px 30px; text-align: justify; color: rgb(85, 85, 85); font-family: \"open sans", sans-serif; font-size: 15px; box-sizing: border-box; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: 0px 0px; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; list-style: none; overflow: hidden;"]
    [*]The Central Bank of Iraq (CBI) simplifies the process for obtaining licenses and lowers fees for point-of-sale (POS) devices.

    [*]Governmental, non-governmental, and mixed departments, trade unions, and centers must open bank accounts and provide POS for electronic payments.

    [*]Private schools, universities, colleges, and fuel stations must open bank accounts and provide POS for electronic payments.

    [*]Commercial centers, stores, restaurants, pharmacies, and private clinics must open bank accounts and provide POS for electronic payments.

    [*]Banks must provide POS for electronic payments to customers.

    [*]Importation of POS and ATM devices for payment and collection systems is exempt from customs fees and taxes.

    [*]Electronic payment transactions using POS are exempt from taxes.

    [*]Implementation effective June 1, 2023.

    [/list]

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