2012/12/19 (23: 00)
Tax reforms and international partnerships to support the private sector
Baghdad/writer
A
number of economists to support and strengthen the private sector takes
place through an integrated tax reform based on the need for a radical
and structural transformation in the working mechanisms of the General
Commission for taxes to give the development task in the tasks of the
Commission, and not merely a task collection.
Economic
expert said on alfkiki (range) that there is an urgent need to design
tax legislation and legislative help to keep pace with the demands of
economic and technological development in the country, including tax
reforms required was to amend the companies Act No. 21 of 1997, by
adding an additional paragraph to the paragraphs of the article (16) of
the Act, the new paragraph on income tax exemption of capital from
equity when the registration of the company to the Registrar of
companies.
Alfkiki said that the implementation
of this proposal would be a major impetus for investment activity and
create new jobs and reduce unemployment, and in-kind capital currently
disabled or underutilized as required of real estate and agricultural
and non-agricultural land and machinery and equipment will find their
way to invest and raise rates.
He said
that there was a need to review the taxes and fees on housing and real
estate sector in order to promote the construction of housing and
building problem leaching, small real estate investors in the private
sector contributed effectively and continuously throughout the era of
the 1940s to the 1980s, working in housing projects, but the halt in the
1990s and until now, because of taxes and fees imposed on this sector
and the property transfers and fees and other genus patch of real
estate, which is still valid so far Despite the
disappearance of reasons imposed in the 1990s, and then to be reviewed
in this topic and the abolition of all taxes and charges in this sector
if there is a genuine will to the private sector to resume its role in
building a greater economic and social problem facing Iraq.
And
that despite the enactment of the investment and the provision of tax
exemptions and facilities of importance and role, but that is not enough
to attract the investment effectively to Iraq, so must be the rest of
the legislation, regulations and procedures and appropriate concepts and
perceptions of objectivity, as infrastructure (Infrastructure) is a
critical factor added to provide an attractive investment environment, a
concept not only to roads, electricity, water and communications, but
the broad concept of talk, including all social and political factors,
physical and mentalities, perceptions and situations
Producers
of parts and inputs and high side industries and management skills of
government bureaucracy and macroeconomic management, including interest
rates and banking system and the tax system, and levels of education and
training and the country's reserve of educated, engineers, technicians
and demographics, and political system in the country.
The
Economist said Tawfiq mana to support the private sector and improve
the environment and the investment climate in Iraq requires the
establishment of a Coordination Council for the improvement of the
investment environment in the country, with the task to propose
legislation and actions needed to improve and to stimulate and develop
activities and monitor progress in this area, in addition to
contributing to overcome the problems and difficulties faced by local
and foreign investors, through the intervention of Government organs and
agencies in the country.
And
manei added be functions of this Board and this establishment and
implementation of the mechanism of action by which relief is reviews of
government departments and reduce administrative approvals demands in
their requirements, and performance measurement systems in these areas
into the desired functions of the Council, and in the medium term or
long term must take the initiative to form (Investment Advisory Council
in Iraq), which consists of executive managerial level of multinational
corporations, and the tasks entrusted to the Council recommendations
shall be implemented To improve the investment
environment in Iraq, in addition to the design of economic policies in
accordance with a global perspective through communication with
investors.
He noted the
importance of allocating land and sites for investors, and the
importance of providing solutions to the problems and difficulties faced
by investors in providing investment sites meet the requirements of the
investment projects, and to stimulate and accelerate the work on the
planning and management of land allocation and locations required for
investment in all sectors, as well as developing and improving the
competitiveness of SMEs, there is an urgent need to deal with small and
medium-sized enterprises in the form of totals, through the development
of policies for each group or class and encourage Clustering for the
development community
The reality of
competitiveness, with the need to have more bilateral investment
agreements leading to the flow of capital and technology to the country.
He
pointed to the need for concluding bilateral agreements on avoidance of
double taxation, to prevent that cash returns twice, in achieving
revenue and in the country of nationality of the investor, and other
achievements for the convening of such conventions is the protection of
foreign investor for more than tax levels on local investors like him.
And
manei said that there was a need in Iraq for further progress in
reducing inflation through careful implementation of the
inflation-targeting regime, and through progress in financial reforms
lead to a reduction in the proportion of the amount of debt in the
amount of GDP, and the consolidation of efforts in the area of
restructuring expenses to find area required for private investment,
particularly in infrastructure, with the need to support and promote the
work of innovation and invention and transfer of technologies and the
use of quality standards and specifications by projects through
strengthening mechanisms Work in the
area of innovation with the strengthening of links between enterprises,
universities and research centres, to convert the results of research
and development into products and services. He
said the need to increase levels of investment in people through
education and upbringing and training, in particular the proportion
engaging in primary education in Iraq is 54%, while the proportion in
Turkey for example is 96%, and 35% in secondary education while in
Turkey 87%, underscoring the need for the establishment of an agency or a
body specializing in the work and policies of the base and promote the
movement and investment in Iraq, with the aim of raising investment
ability.
He hinted that the State
support and research and development projects, and support the
activities of environmental protection and assistance to private
enterprises to participate in local and international trade fairs,
assistance in market research and marketing and the role of commercial
attaches in Iraqi embassies in easily and open areas of export to Iraq's
industrial products, requiring commercial attachés in Iraqi embassies
in the preparation of studies and surveys on absorptive capacity and for
Iraqi products in those countries.
[You must be registered and logged in to see this link.]
Tax reforms and international partnerships to support the private sector
Baghdad/writer
A
number of economists to support and strengthen the private sector takes
place through an integrated tax reform based on the need for a radical
and structural transformation in the working mechanisms of the General
Commission for taxes to give the development task in the tasks of the
Commission, and not merely a task collection.
Economic
expert said on alfkiki (range) that there is an urgent need to design
tax legislation and legislative help to keep pace with the demands of
economic and technological development in the country, including tax
reforms required was to amend the companies Act No. 21 of 1997, by
adding an additional paragraph to the paragraphs of the article (16) of
the Act, the new paragraph on income tax exemption of capital from
equity when the registration of the company to the Registrar of
companies.
Alfkiki said that the implementation
of this proposal would be a major impetus for investment activity and
create new jobs and reduce unemployment, and in-kind capital currently
disabled or underutilized as required of real estate and agricultural
and non-agricultural land and machinery and equipment will find their
way to invest and raise rates.
He said
that there was a need to review the taxes and fees on housing and real
estate sector in order to promote the construction of housing and
building problem leaching, small real estate investors in the private
sector contributed effectively and continuously throughout the era of
the 1940s to the 1980s, working in housing projects, but the halt in the
1990s and until now, because of taxes and fees imposed on this sector
and the property transfers and fees and other genus patch of real
estate, which is still valid so far Despite the
disappearance of reasons imposed in the 1990s, and then to be reviewed
in this topic and the abolition of all taxes and charges in this sector
if there is a genuine will to the private sector to resume its role in
building a greater economic and social problem facing Iraq.
And
that despite the enactment of the investment and the provision of tax
exemptions and facilities of importance and role, but that is not enough
to attract the investment effectively to Iraq, so must be the rest of
the legislation, regulations and procedures and appropriate concepts and
perceptions of objectivity, as infrastructure (Infrastructure) is a
critical factor added to provide an attractive investment environment, a
concept not only to roads, electricity, water and communications, but
the broad concept of talk, including all social and political factors,
physical and mentalities, perceptions and situations
Producers
of parts and inputs and high side industries and management skills of
government bureaucracy and macroeconomic management, including interest
rates and banking system and the tax system, and levels of education and
training and the country's reserve of educated, engineers, technicians
and demographics, and political system in the country.
The
Economist said Tawfiq mana to support the private sector and improve
the environment and the investment climate in Iraq requires the
establishment of a Coordination Council for the improvement of the
investment environment in the country, with the task to propose
legislation and actions needed to improve and to stimulate and develop
activities and monitor progress in this area, in addition to
contributing to overcome the problems and difficulties faced by local
and foreign investors, through the intervention of Government organs and
agencies in the country.
And
manei added be functions of this Board and this establishment and
implementation of the mechanism of action by which relief is reviews of
government departments and reduce administrative approvals demands in
their requirements, and performance measurement systems in these areas
into the desired functions of the Council, and in the medium term or
long term must take the initiative to form (Investment Advisory Council
in Iraq), which consists of executive managerial level of multinational
corporations, and the tasks entrusted to the Council recommendations
shall be implemented To improve the investment
environment in Iraq, in addition to the design of economic policies in
accordance with a global perspective through communication with
investors.
He noted the
importance of allocating land and sites for investors, and the
importance of providing solutions to the problems and difficulties faced
by investors in providing investment sites meet the requirements of the
investment projects, and to stimulate and accelerate the work on the
planning and management of land allocation and locations required for
investment in all sectors, as well as developing and improving the
competitiveness of SMEs, there is an urgent need to deal with small and
medium-sized enterprises in the form of totals, through the development
of policies for each group or class and encourage Clustering for the
development community
The reality of
competitiveness, with the need to have more bilateral investment
agreements leading to the flow of capital and technology to the country.
He
pointed to the need for concluding bilateral agreements on avoidance of
double taxation, to prevent that cash returns twice, in achieving
revenue and in the country of nationality of the investor, and other
achievements for the convening of such conventions is the protection of
foreign investor for more than tax levels on local investors like him.
And
manei said that there was a need in Iraq for further progress in
reducing inflation through careful implementation of the
inflation-targeting regime, and through progress in financial reforms
lead to a reduction in the proportion of the amount of debt in the
amount of GDP, and the consolidation of efforts in the area of
restructuring expenses to find area required for private investment,
particularly in infrastructure, with the need to support and promote the
work of innovation and invention and transfer of technologies and the
use of quality standards and specifications by projects through
strengthening mechanisms Work in the
area of innovation with the strengthening of links between enterprises,
universities and research centres, to convert the results of research
and development into products and services. He
said the need to increase levels of investment in people through
education and upbringing and training, in particular the proportion
engaging in primary education in Iraq is 54%, while the proportion in
Turkey for example is 96%, and 35% in secondary education while in
Turkey 87%, underscoring the need for the establishment of an agency or a
body specializing in the work and policies of the base and promote the
movement and investment in Iraq, with the aim of raising investment
ability.
He hinted that the State
support and research and development projects, and support the
activities of environmental protection and assistance to private
enterprises to participate in local and international trade fairs,
assistance in market research and marketing and the role of commercial
attaches in Iraqi embassies in easily and open areas of export to Iraq's
industrial products, requiring commercial attachés in Iraqi embassies
in the preparation of studies and surveys on absorptive capacity and for
Iraqi products in those countries.
[You must be registered and logged in to see this link.]
Today at 7:52 am by Rocky
» utube 3/28/24 MM&C Iraqi Dinar - IQD Update - SWIFT - Purchasing Power - Urban Renaissance - Releas
Today at 7:51 am by Rocky
» Al-Mandalawi: Iraq is witnessing competition between major companies...and the House of Representati
Today at 7:49 am by Rocky
» The President of the Republic stresses the importance of the role of programmers in developing the w
Today at 7:46 am by Rocky
» The Minister of Industry and Minerals follows up on the technical and production performance of the
Today at 7:45 am by Rocky
» The Minister of Finance is following up on the field the progress of the newly implemented ASYCUDA s
Today at 7:44 am by Rocky
» Statistics: There are more than 15 million bank accounts in Iraq
Today at 7:42 am by Rocky
» Representative: One paragraph hinders the passage of a general amnesty within the House of Represent
Today at 7:37 am by Rocky
» Parliamentary Finance: “The draft federal budget law will be devoid of new job grades.”
Today at 7:36 am by Rocky
» Parliamentary action to resolve the fate of “food security contracts” in 15 governorates
Today at 7:35 am by Rocky
» 300 factories turned into "iron scrap" in Diyala
Today at 7:34 am by Rocky
» A deputy expects the dollar exchange rate to reach 140 Iraqi dinars
Today at 7:32 am by Rocky
» Al-Yasiri: The American administration is working hard to destroy the Iraqi economy
Today at 7:31 am by Rocky
» Infographic: The highest annual salaries of leaders of Arab countries
Today at 7:30 am by Rocky
» Communications announces that the electronic signature project has reached advanced stages
Today at 7:29 am by Rocky
» Parliamentary Integrity presents a file related to Kuwaiti violations of Iraqi oil
Today at 7:27 am by Rocky
» Parliamentary move to include amendments to Parliament’s internal regulations on the agenda (documen
Today at 7:25 am by Rocky
» The Iraqi President urges the Minister of Finance to expedite the payment of salaries to the Kurdist
Today at 7:23 am by Rocky
» Central Bank of Iraq sales exceeded $251 million at today’s auction
Today at 7:21 am by Rocky
» The Foreign Minister questions the "Iraqi resistance" attacks against Israel: the other side did not
Today at 7:20 am by Rocky
» The Minister of Labor announces progress in the electronic payment system
Today at 7:17 am by Rocky
» Interior Ministry: For the first time, we controlled the smuggling of petroleum derivatives by 98 pe
Today at 7:16 am by Rocky
» International companies offer offers to invest in the Dhi Qar marshes.. What distinguishes them?
Today at 7:15 am by Rocky
» “Tough” comments on interest rates raise the dollar globally
Today at 7:14 am by Rocky
» Iraq is the fifth largest oil supplier to South Korea in a month
Today at 7:12 am by Rocky
» Recovering more than 100 billion as a result of more than 200,000 employees on social welfare
Today at 7:11 am by Rocky
» The Sudanese consultant announces the completion of Baghdad Metro track designs
Today at 7:08 am by Rocky
» Al-Sudani stresses ending the problem of triple-shift schools
Today at 7:07 am by Rocky
» Iraq begins building two new tankers to transport petroleum products
Today at 7:06 am by Rocky
» Forming a council for “competition and preventing monopoly”
Today at 7:04 am by Rocky
» Features of an Iraqi-Turkish agreement regarding the status of the Kurdistan Workers’ Party
Today at 7:02 am by Rocky
» {Al-Buzrajiya} between the hammer of fraud and the power of the owners
Today at 7:01 am by Rocky
» Ministry of Oil: The gas sector is witnessing great development
Today at 6:59 am by Rocky
» An agreement with Britain in the field of securities
Today at 6:58 am by Rocky
» Discussions between Baghdad and Ankara to open a new port
Today at 6:57 am by Rocky
» Trade: About 11 million citizens updated their new card information
Today at 6:56 am by Rocky
» Electronic payment is sustainable growth
Today at 6:55 am by Rocky
» Experts: Iraq qualifies to be an important tourist country
Today at 6:54 am by Rocky
» Amending the Health Professions Law “robs” scientists of the central appointment 3 years after it wa
Today at 5:20 am by Rocky
» Is the “blessings package” that Erbil paid to the citizens of Kurdistan related to the elections?
Today at 5:19 am by Rocky
» Exceeded 5,000 projects.. Allocating 10 trillion dinars to support governorate reconstruction plans
Today at 5:18 am by Rocky
» “His need no longer exists.” Parliamentary Finance confirms the necessity of returning the retiremen
Today at 5:17 am by Rocky
» To communicate with the bases... 12 directives from Al-Sadr, including blocking numbers for non-gove
Today at 5:15 am by Rocky
» In an interview with "Baghdad Today"... an Iranian researcher reveals the importance of Haniyeh's vi
Today at 5:14 am by Rocky
» After it was 63 trillion in 2023... the 2024 budget deficit will rise to 80 trillion dinars
Today at 5:13 am by Rocky
» Parliament reveals the date of the first evaluation of the governors and determines the party respon
Today at 5:11 am by Rocky
» The President of the Republic informs Al-Araji and Al-Basri: Momentum must be mobilized to eliminate
Today at 5:10 am by Rocky
» Can the Federal Court sue others? A legal clarification of its response mechanism to abuse
Today at 5:09 am by Rocky
» Despite promises to soon stop burning gas.. What is the secret behind Iraq renewing the Iranian gas
Today at 5:07 am by Rocky
» Advisor to Al-Sudani: The dollar is on the way to further decline, and 70% of Iraqi traders have ent
Today at 5:06 am by Rocky
» Iraq exported more than 99 million barrels of oil last February
Today at 5:04 am by Rocky
» Barzani “gives good news” to Kurdistan employees: salaries, land, and loan exemptions
Today at 5:03 am by Rocky
» Alia Nassif: Nour Zuhair returned to the port of Umm Qasr to make deals.. An influential Shiite forc
Today at 5:02 am by Rocky
» The Prime Minister announces the movement of nearly 500 stalled projects
Today at 5:00 am by Rocky
» A government strategy to enhance investments.. Iraq is on the verge of a new era of economic develop
Today at 4:59 am by Rocky
» Ranging between 20% and 50%.. The Kurdistan government decides to reduce service fees, customs dutie
Today at 4:58 am by Rocky
» Al-Sudani: The reform approach in the security services is an integral part of reform in other secto
Today at 4:56 am by Rocky
» Everyone in Iraq wants the Sudanese visit to Washington to be successful, even the factions!
Today at 4:55 am by Rocky
» Sources and experts expect the agenda.. in his bag is the Baghdad dollar and the factions’ truce, bu
Today at 4:54 am by Rocky
» The decision to raise gasoline prices arouses the ire of drivers...a reminder of the large demonstra
Today at 4:53 am by Rocky
» Parliamentary services: 3 important hospitals in Baghdad will enter service at the end of the year
Today at 4:52 am by Rocky
» Iraq signs a contract to supply Iranian gas for a period of five years
Today at 4:50 am by Rocky
» Parliament adds a voting paragraph on amending the Penal Code to its agenda
Today at 4:49 am by Rocky
» His political advisor: We are not afraid of Sudanese entering the elections alone
Today at 4:48 am by Rocky
» Parliamentary services explain the reasons for the rise in real estate prices in Baghdad
Today at 4:46 am by Rocky
» Attia, criticizing the government's decisions: "The citizen's feathers will be ruffled without servi
Today at 4:45 am by Rocky
» Parliamentary Communications: Zain Iraq and Asiacell did not pay their debts
Today at 4:44 am by Rocky
» The Governor of Karbala announces the imminent establishment of the largest industrial city in the c
Today at 4:43 am by Rocky
» A government determination to end the issue of displaced persons in the middle of this year
Today at 4:42 am by Rocky
» Iraq buys gas from Kurdistan to generate electricity
Today at 4:41 am by Rocky
» Parliamentary signatures to include an amendment to the internal regulations to decide the choice of
Today at 4:40 am by Rocky
» In Basra.. a demonstration against foreign workers in Iraqi companies (video)
Today at 4:38 am by Rocky
» Al-Samarrai: Presidency of Parliament is an entitlement to the constituents, and calling it a “frame
Today at 4:36 am by Rocky
» Electronic food supplies in 6 governorates... covering 11 million Iraqis and “writing off” about 700
Today at 4:34 am by Rocky
» Corruption of the Ministry of Transport.. Representatives express their surprise at the minister’s s
Today at 4:32 am by Rocky
» The biggest supporter of the invasion of Iraq.. The death of former US Senator Joe Lieberman
Today at 4:31 am by Rocky
» Iraq is ranked “late.” A list of the most and least safe Arab countries for women
Today at 4:30 am by Rocky
» The Council of Ministers exempts the Gulf Interconnection Authority from guarantee fees: it is a gov
Yesterday at 7:48 am by Rocky
» The Iraqi government raises the size of the 2024 budget, and Parliament is “surprised”
Yesterday at 7:46 am by Rocky
» Popular Movement: We have many economic options away from American hegemony
Yesterday at 7:42 am by Rocky
» The Oil Parliament stresses the need to transfer part of the revenues to the producing governorates
Yesterday at 7:41 am by Rocky
» It will cover 14 regions in eastern Iraq.. A deputy reveals the “border electricity” project
Yesterday at 7:40 am by Rocky
» Experts Warn Mass Migration Threatens US Food Security
Yesterday at 7:37 am by Bama Diva
» Al-Fateh: America occupies Iraq through agreements
Yesterday at 7:37 am by Rocky
» Anger in Iraq over a "sudden decision"... and a reminder of a "general strike" that paralyzed the co
Yesterday at 7:34 am by Rocky
» Parliamentary Committee: Parliament is discussing today a decision that “disturbed” the Iraqis
Yesterday at 7:33 am by Rocky
» Ministry of Electricity: Our production will reach 27 thousand megawatts by May
Yesterday at 7:31 am by Rocky
» Diagnosing the “most important” problems in the oil file between Baghdad and Erbil.. What is the rel
Yesterday at 7:30 am by Rocky
» The Iraqi Fiqh Academy and the Sunni Endowment issue a fatwa to pay Zakat al-Fitr
Yesterday at 7:28 am by Rocky
» The National Bank of Iraq continues its digital transformation by launching its new banking system a
Yesterday at 7:26 am by Rocky
» Parliamentary Investment and the Central Bank are discussing the housing initiative
Yesterday at 7:25 am by Rocky
» The Prime Minister announces the restart of 500 suspended projects
Yesterday at 7:23 am by Rocky
» Al-Barti assesses the region's employees: Your salaries are insured and will be paid after resettlem
Yesterday at 7:21 am by Rocky
» Iraqi-American discussions in anticipation of the Sudanese visit
Yesterday at 7:20 am by Rocky
» Iraq and Turkey hold meetings in Ankara to discuss technical issues related to the development road
Yesterday at 7:17 am by Rocky
» A government parliamentary agreement to support budget revenues and governorate allocations for inve
Yesterday at 7:16 am by Rocky
» Oil: The gas sector is witnessing great development
Yesterday at 7:15 am by Rocky
» A Kurdish-French agreement to develop trade and economic relations
Yesterday at 7:13 am by Rocky
» Exchange companies in Mosul demand that they be entered into the currency selling window
Yesterday at 7:12 am by Rocky