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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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    World Bank: Iraq provides business environment indicators and a relative reduction in taxes

    Rocky
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    World Bank: Iraq provides business environment indicators and a relative reduction in taxes Empty World Bank: Iraq provides business environment indicators and a relative reduction in taxes

    Post by Rocky Wed 15 Nov 2017, 2:01 am

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    World Bank: Iraq provides business environment indicators and a relative reduction in taxes


     Baghdad / Zahraa al-Jassim 

    An annual World Bank annual forecast of Iraq's business environment next year showed progress in business environment indicators for most sectors, despite Iraq's slightly lower tax collection. Advisor to the Prime Minister of Finance believes that the change conducted by the World Bank on the methodology of assessment and mechanisms in the tax sector, is what Iraq and most Arab countries to this decline.
    The ranking of Iraq in the ease of doing business according to the report to the rank of 168 compared with the rank of 165, which filled according to a report last year. 
    The World Bank, in its annual report published recently, obtained a copy of it, that in 2016-2017, Iraq was able to implement fundamental changes in the domestic regulatory framework in two main areas: starting business and obtaining credit, noting that the start of business It has become easier in Iraq by combining multiple registration procedures and shortening the time required to register companies. Business owners no longer have to register their companies independently with the General Authority for Taxes, while the time required for registration of companies is reduced. Register Improving the electronic registration system.
    The report added that Iraq has worked to improve access to credit information through the launch of a credit register managed by the Central Bank of Iraq, as of 1 January 2017, which included 234,967 customers and 4,877 commercial borrowers, including information on their default history during The past five years.
    A report by the World Bank's Mashreq Regional Director, Saroj Kumar Jha, said that Doing Business data shows that fragile economies such as Iraq continue reform efforts and deal with crises as opportunities to improve business systems. 2030, where the Iraqi government embarked on a basic reform agenda based on the General Government Framework Program (2014-2018), which places priority on institutional economic reforms and private sector development. The World Bank is committed to supporting the Iraqi government's efforts to implement priority reforms that will strengthen Leah business growth and better opportunities for all Iraqis. "
    Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh, said in an interview with (Mada) commenting on the report of the World Bank, this report called the facilitation of the business environment in Iraq, confirms that, despite the decline in tax collection, it shows a rise in most indicators of other sectors, because The World Bank has changed the methodology of the tax clause, which has shown Iraq and most Arab countries to decline in order, but said: On the other hand, the report shows that there is a substantial improvement in the indicators of the business environment in Iraq for most sectors or activities adopted by the World Bank for the year 2018 for Iraq, Promising for investment sectors T and foreign contractors to work in peace and stability in Iraq's economy.
    Saleh said: Unfortunately, there is a change made by the World Bank on the methodology of assessment and mechanisms in the tax sector exclusively, which led to the decline of the position of Iraq relative to the overall rate in ranking among countries compared to the previous estimate, but, on the other hand, there is Significant improvement in corporate registration, in addition to other indicators.
    In a study released in response to the World Bank report, Hassan Haddad al-Abadi, a few months after the start of his term, revealed his vision for reforms to world leaders at the World Economic Forum in Davos. By the summer of 2015 , His political reforms have captured all the headlines, and although the World Bank's Business Doing Business 2018, which measures systems that promote business and those that restrict it, classifies "ease of doing business" in 190 countries, "Doing Business" To Iraq, but a closer look at him show a different story, for example, that among the ten indicators form the overall outcome of the economy, we see improvement in Iraq in six indicators starting in 2017, in the "Starting a Business"
    The expert goes on to say that when we consider that Iraq is competing with 189 other countries looking to improve its image and compete for international investment, there is also a commendable improvement here in view of the tyrannical Iraqi bureaucracy that can make getting the most basic government services difficult. Finally, Let us not forget that these efforts were made because Iraq fought and defeated the world's largest terrorist organization.



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