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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


    Tax reforms and international partnerships to support the private sector

    Hkp1
    Hkp1
    Hkp1
    Interacting Investor
    Interacting Investor


    Posts : 3118
    Join date : 2012-12-19
    • Post n°1

    Tax reforms and international partnerships to support the private sector Empty Tax reforms and international partnerships to support the private sector

    Post by Hkp1 Thu 20 Dec 2012, 12:12 am

    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.



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