The Council of Ministers approves important recommendations regarding the transition to electronic p

POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

[size=52]The Council of Ministers approves important recommendations regarding the transition to electronic payment[/size]

[size=45]Yesterday, Tuesday, the Council of Ministers issued a decision regarding activating electronic payment, stressing the importance of this measure in revitalizing the economic movement.[/size]
[size=45]A government statement stated, “The cabinet held its session yesterday, chaired by Muhammad Shia’ al-Sudani, and referred to his previous directives regarding activating the electronic payment process in all aspects of our lives, due to its high level of protection and safety, its shortening of time and effort, and its contribution to revitalizing the economy. The Council of Ministers approved the recommendation of the Ministerial Council for Economy, which included that the Central Bank of Iraq facilitate procedures for granting licenses to collect bank cards using points of sale (POS), and reduce commissions on banks and agencies that use these devices.[/size]
[size=45]The statement indicated, “Obligating all governmental, non-governmental and mixed departments, trade unions, associations, and all centers in which amounts are collected, to open bank accounts and provide point-of-sale devices for electronic payment (POS), payment by bank cards to collect money and to enable those wishing to pay with cards.” Keep cash receipts together.”[/size]
[size=45]And he stressed, “Obligating all private schools, universities, private colleges, and fuel processing stations of all kinds and locations and throughout Iraq, to ​​open bank accounts and provide point-of-sale devices for electronic payment (POS), payment by bank cards to collect money and to enable those who wish to pay with cards, while keeping On the cash receipt along with linking the renewal of work permits and the granting of licenses to practice the profession through the provision of these devices.[/size]
[size=45]And he talked about, “Obligating all centers and shops of all kinds, restaurants, pharmacies, private medical clinics, stores, and all wholesale and retail marketing outlets and licensed services that require payment for their benefit within the boundaries of the Municipality of Baghdad and the centers of the governorates and districts throughout Iraq, to ​​open bank accounts and provide point-of-sale devices for electronic payment ( POS) Payment by bank cards to collect money and to enable auditors who wish to pay with cards, while maintaining cash receipt along with linking the renewal of work licenses and granting licenses to practice the profession through the availability of these devices.[/size]
[size=45]And he stated that "all government and private banks provide point-of-sale devices for electronic payment (POS), payment by bank cards to the aforementioned authorities and other customers to collect money electronically and throughout Iraq."[/size]
[size=45]The statement noted, “Exempting contracts and importing electronic payment and collection devices (points of sale (POS) devices, and automated teller machines (ATMs), related to payment and collection systems with bank cards, from customs fees and taxes in all their forms, and this is included in the federal budget for the year 2023, with Exempting all electronic payment (POS) transactions from taxes.[/size]
[size=45]And the statement concluded, “This decision will be implemented as of June 1, 2023.”[/size]
[size=45][You must be registered and logged in to see this link.]