During four years .. expectations beyond the non-oil revenues of 9 trillion dinars

by **Rocky** Wed 02 Oct 2013, 4:06 am

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During four years .. expectations beyond the non-oil revenues of 9 trillion dinars

by Rocky Wed 02 Oct 2013, 4:06 am

During four years .. expectations beyond the non-oil revenues of 9 trillion dinars

02/10/2013

BAGHDAD / JD / .. predicted the Finance Committee in the House of Representatives increase in oil revenues over the next four years to nearly 9 trillion and 786 billion dinars.

Said committee member Abdul Hussein al-Yasiri told the reporter / JD / he اوجود to a marked increase in the value of non-oil revenues, not even Masathakq fading in front of expectations optimism in the volume of oil revenues and in terms of percentage of total revenues, indicating that these revenues will increase from 7 trillion and 398 billion dinars during this year to 9 trillion and 786 billion dinars in 2017, an increase does not exceed 32 percent.

He said the percentage of total revenues will drop from 6.5 percent in 2013 to 4.3 percent in 2017 to become the average increase of 5.3 percent of total revenues during the period of 2013 2017, attributing the modest increase in the value of non-oil revenues to the expected increase in tax revenue by 10 percent annually from its previous level, and the expected increase in the Treasury's share of non-oil company profits by 10 percent on average over the next four years.

He explained that the oil revenue and non-oil will increase from 112 trillion and 306 billion in 2013 to 226 trillion and 837 billion dinars in 2017 to check in accordance with the expectations of a total revenue of $ 812 trillion and 263 billion dinars over the coming years.

And non-oil revenues estimated for 2013 at less than (6.9%) percent, despite the government's efforts to move away from dependence on oil.

The report said the budget obtained by the agency / JD /: that revenue non-oil estimated for the year 2013 and accounted for less (6.9%) percent of revenue in spite of the declared policy of the government aimed to diversify its revenue and stay away from excessive dependence on oil.

The report noted that the policies that can be followed to lack of dependence on oil tax rate increase Max and the introduction of new taxes as income tax for employees.Provided that precedes the development of these taxes to study the effects of economic, social and educate citizens about the political dimensions of a tax on the government.

The report called for a lifting obtaining the taxes and duties of individuals and companies, by activating the law of customs tariff and scheduling the implementation of this law, in addition to developing a road map for the implementation of the program educates citizens about the benefits that will come from the implementation of the law of customs tariff and the economic benefits inherent of Ratniv This law of Iraq.

According to the estimate of imports in the budget in 2013, the form of which 93% oil, with estimated income tax of foreign oil companies 0.25.

The budget in 2013 obtained by the agency / JD / that 93 percent of Iraq's revenues come from oil, while the rest of them, it depends of taxes.

The following Iraq's imports figures.

Max tax 0.29

Taxes and other charges 2.19

Wages for services 0.14

Transferred from public bodies and companies of the state-owned 2.36

Interest Income 0.04

Staff income tax 0.27

Corporate income tax of foreign oil 0.25

Corporate income tax 0.31

Income tax of individuals 0.15

Tax contained Alkmarki to 0.89

Oil revenues 93.11. / End / / 23

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