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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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    IN DOCUMENTS ... THE NUMBER OF PRIVATE BANKS THAT HAVE EVADED TAX SINCE 2015

    Rocky
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    IN DOCUMENTS ... THE NUMBER OF PRIVATE BANKS THAT HAVE EVADED TAX SINCE 2015 Empty IN DOCUMENTS ... THE NUMBER OF PRIVATE BANKS THAT HAVE EVADED TAX SINCE 2015

    Post by Rocky Wed 05 May 2021, 7:31 am

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    Iraq

    [size=38]IN DOCUMENTS ... THE NUMBER OF PRIVATE BANKS THAT HAVE EVADED TAX SINCE 2015[/size]

    Wednesday, May 5, 2021 10:26 AM




    Today, Wednesday, a member of Parliament, Jamal Al-Muhammadawi, revealed that the total number of private banks that have not been taxed since 2015 amounted to 20% of all registered banks.
    Al-Muhammadawi said, according to documents issued by his office addressed to the Minister of Finance, and the National News Center obtained a copy: “The number of private banks that were not taxed for the year 2015 and previous years reached (9) banks, and this percentage is (20%)) Of the total number of (44) banks registered with the Companies Department of the General Tax Authority.
    He added, "This matter leads to not maximizing the financial resources of the state treasury at the present time, and the administrative assessment has not been carried out despite the submission of financial data for those banks, which achieved a surplus as a result of their activities, contrary to Article 30 of the amended Income Tax Law No. 113 of 1982."
    He continued, "The banks are the Iraqi Credit Bank, Al-Economy, Al-Warka, North, Tigris and Euphrates, Kurdistan International, Abu Dhabi Islamic, Standard Chartered and City Bank's representative office."
    Al-Muhammadawi confirmed, “There are banks that have not submitted their financial data to the tax accounting department, although the General Tax Authority has addressed the Central Bank with the necessity to stop dealing with such banks, but the Central Bank replied that its inclusion as a party to the tasks of other institutions is inconsistent with its law, without taking the necessary measures to urge And the dangers of these banks to impose the submission of financial statements in accordance with Article (27) of the Income Tax Law.
    He pointed out that “there are some notices received by private banks that a percentage (3%) has been fulfilled for the account of tax trusts for buying foreign currency for the benefit of the importer who does not include adequate details about this taxpayer from whom the trusts were received, for example, the full name of the taxpayer, his address, or the address of the bank, all of that contrary to the paragraph ( 4) From the instructions of the Ministry of Finance / General Tax Authority.
    Al-Muhammadawi called, the Central Bank of Iraq, to ​​“clarify its procedures towards these tax violations, given that the bank is the supervisor of the work of banks in Iraq in accordance with Article (40) of the Central Bank Law No. 56 of 2004 as amended.”
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