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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Directed to exempt all investing companies from taxes and fees

    Rocky
    Rocky
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    Directed to exempt all investing companies from taxes and fees Empty Directed to exempt all investing companies from taxes and fees

    Post by Rocky Sat 31 Aug 2013, 6:47 pm

    Directed to exempt all investing companies from taxes and fees

    08/31/2013 12:00 AM

    Parliamentary economy : lagging them overwhelm the state budget

    BAGHDAD - Farah pumice
    I went back to the Committee on the economy and investment parliamentary bill exempting Iraqi and foreign companies implementing investment projects from taxes and fees of important laws of the country , which contribute to advancing the investment forward and raise the economic level of Iraq. Comes at a time the Committee affirmed the importance of addressing the phenomenon of companies lagging in the implementation and completion of investment projects in the country , which caused upheaval in the state 's annual budget .
    Discuss the law
    Committee member Rep. Amer said winner (morning) : The « his committee discussed the draft law to be submitted to the Presidency of the Parliament and its inclusion on the agenda for the purpose of the second reading , as will be discussed extensively and the introduction of proposals to members of the House of Representatives .
    He predicted the winning pass this law during the current legislative session , saying that the law of the important laws that serve the country and support the movement of investment.

    Tax breaks
    The Council of Ministers has approved a bill exempting Iraqi and foreign companies implementing investment projects from taxes and fees last May , in the interest of the government to support the private investment and economic , private development projects through the granting of privileges and exemptions and facilitating the procedures implemented and work to achieve development projects and encourage companies and contractors to implement these planned projects in the country 's investment approaches , as approved yesterday ( Tuesday ) to exempt the company implementing the project of the port of Faw of tax and fees.

    The field of employment
    Competent investment affairs Hassan al - Asadi had explained that the decision of the Council of Ministers holds a lot of pros from investor exempt from paying value of the contract is estimated at ( 3.7 ) percent of the total value of the volume of work and this is a big number affects the capital estimated at work (1) percent represents a direct deduction , he said , adding that the law encouraged to enter the field of investment business in all sectors, as the need to find projects of various sizes in all sectors of production and service efforts that need to be investment companies.

    The demands of investors
    In turn, the media adviser to the National Business Council Daoud Abdel Zair : The « exempt investment companies from taxes is one of the demands of investors task, has been put forward the idea of
    ​​the holiday tax through the media earlier to their importance and are adding positives to the investment process as a whole , indicating that the process تستبشر good investment when they are adopted so orientations .

    The head of the International Federation for Economic Development Ali Hilfi stressed the importance of this decision to exempt investment firms from customs duties , pointing out that the red tape , which was based at the border crossing for the purpose of imposing customs duties and time-consuming , and carry a lot of negative influences in the reality of work , and they represent unwelcome step by foreign investment enterprises in particular.

    Breakthrough investment
    Hilfi said the decision marks the beginning of investment real breakthrough , as it represents the time factor is important in investment companies wishing to operate in the country , noting that Iraq's vast field and needs a lot of service agencies at border ports to speed up transactions Customs Alkmarki .

    Recycling money
    In a related context , said a member of the Economic Committee that the projects lagging by some companies invested caused upheaval in the general budget of the state, where there are funds from one year to another and overstock misplaced , noting that it has caused great losses, whether productive or service where delay the wheel the national economy if the delayed completion.

    Giant projects
    To address this phenomenon, said the winner : "It must be the selection of companies with competence and have similar acts Closed , as well as submit bids rewarding , as well as mega projects , it is preferable to be global companies have completed projects in other countries, with the capability to share with the Iraqi company as The national partner will gain experience and to create cadres for future projects and further facilitate foreign matter of the company . "
    And on the penalty clauses included in the contract with the investment companies , it was stated MP that the conditions exist, but red tape delay the achievement of the behavior of legal ways that take a long time to lead to a delay in the project , arguing that the financial and administrative corruption prevents the assignment of projects to companies good and solid to carry out and complete the project on time.


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