[size=35][size=35]Alsumaria “dismantles” a government decision on electronic payment.. How will the merchant “deceive” the citizen and the state at the same time?[/size]
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01-31-2024 | 02:15
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Al-Sumaria News - Special:
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The decisions included exempting citizens or “purchasers of goods and services” from the electronic payment commission, but not canceling the commission because it is the fee for electronic payment services that cannot be cancelled, but rather keeping it and charging it to the seller, as the Council of Ministers’ decision included that “the holder shall bear the electronic payment commissions from the private sectors.” And the payer does not bear any commissions for electronic payment.”
But what in return? The decision continues that the government will bear half of the commissions that the holder will bear, in a step that mitigates the “loss” of the money holders, including merchants, sellers, and service providers. However, the government will not pay this 50% to the merchant or holder, but will compensate him for it in another way.
As the decision is completed after the holder bears the electronic payment commissions, the government compensates 50% of the electronic payment commissions paid by the holder (the merchant, the employer, and all private sector entities).
But the decision stipulated that this 50%, which the state bears, will not be returned as cash to the cashier who paid his clients’ commissions, but rather it will be reduced from taxes or any money that the owner of the money must pay to the state, as the text of the decision says: “The government will compensate the 50%.” Of the electronic payment commissions paid by the holder, provided that they are used to pay the holder’s obligations to the state exclusively through electronic payment, such as renewing licenses, paying taxes, customs, fees, municipal fees, electricity fees, and everything owed to the state, and they cannot be recovered in cash under any circumstances.”
*what does that mean?
In an illustrative example, the owner of a company that sells furniture, for example, was selling to a customer a good or need worth a million Iraqi dinars, and the customer decided to pay electronically. The owner of the furniture company will have to bear the payment commission, which means that the buyer will not pay more than a million Iraqi dinars. As for the commission, which may amount to one thousand or even five thousand dinars, the selling company owner will bear it from his pocket to the electronic payment company or bank.
But repeating this process with all customers will make the company owner pay huge amounts of money from his profits to electronic payment companies.
For example, if we assume that at the end of the month, the company owner finds that the total commissions he paid on behalf of his clients will amount to two million Iraqi dinars, the state will compensate him with one million dinars, meaning it will bear 50% of the commission it bears, but the state will not give the company owner this million. A cash dinar. Rather, it will reduce it from financial obligations such as taxes, fees, or anything that must be paid to the state.
*How will the manipulation be?
But the process as a whole will be “annoying and tempting” for the merchant at the same time, as it is annoying because he has to bear the electronic payment commissions on behalf of his customers, and it is also tempting because he will obtain privileges from the state, especially if he can obtain these privileges and reductions in taxes and fees already without being exposed. For the annoying option of bearing his clients' commissions.
This means that merchants may raise the prices of the goods, commodities, or services they provide, even if by a small amount, in order to be equivalent to “taking the commission in advance and charging it to the customer, but as part of the price of the commodity and not a commission.”
At the same time, the merchant or seller will receive a reduction in half of his financial obligations to the state, without paying a single dinar, as he will go at the end of the month to inform the state that he paid two million dinars, for example, in commissions instead of his customers, but in fact, he obtained these two million in advance from By raising the price of goods to customers, at the same time, he will obtain a reduction in his obligations to the state in terms of taxes and fees by exactly half.
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01-31-2024 | 02:15
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Al-Sumaria News - Special:
In the regular session of the Council of Ministers held yesterday, Tuesday, the Council’s decisions included a set of decisions related to electronic payment in Iraq and encouraging it, but one of the decisions taken may include a “loophole” that merchants exploit to benefit the citizen and the state simultaneously and in a double way. In this report, Alsumaria News provides a reading and review of the decision and its interpretation.
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The decisions included exempting citizens or “purchasers of goods and services” from the electronic payment commission, but not canceling the commission because it is the fee for electronic payment services that cannot be cancelled, but rather keeping it and charging it to the seller, as the Council of Ministers’ decision included that “the holder shall bear the electronic payment commissions from the private sectors.” And the payer does not bear any commissions for electronic payment.”
But what in return? The decision continues that the government will bear half of the commissions that the holder will bear, in a step that mitigates the “loss” of the money holders, including merchants, sellers, and service providers. However, the government will not pay this 50% to the merchant or holder, but will compensate him for it in another way.
As the decision is completed after the holder bears the electronic payment commissions, the government compensates 50% of the electronic payment commissions paid by the holder (the merchant, the employer, and all private sector entities).
But the decision stipulated that this 50%, which the state bears, will not be returned as cash to the cashier who paid his clients’ commissions, but rather it will be reduced from taxes or any money that the owner of the money must pay to the state, as the text of the decision says: “The government will compensate the 50%.” Of the electronic payment commissions paid by the holder, provided that they are used to pay the holder’s obligations to the state exclusively through electronic payment, such as renewing licenses, paying taxes, customs, fees, municipal fees, electricity fees, and everything owed to the state, and they cannot be recovered in cash under any circumstances.”
*what does that mean?
In an illustrative example, the owner of a company that sells furniture, for example, was selling to a customer a good or need worth a million Iraqi dinars, and the customer decided to pay electronically. The owner of the furniture company will have to bear the payment commission, which means that the buyer will not pay more than a million Iraqi dinars. As for the commission, which may amount to one thousand or even five thousand dinars, the selling company owner will bear it from his pocket to the electronic payment company or bank.
But repeating this process with all customers will make the company owner pay huge amounts of money from his profits to electronic payment companies.
For example, if we assume that at the end of the month, the company owner finds that the total commissions he paid on behalf of his clients will amount to two million Iraqi dinars, the state will compensate him with one million dinars, meaning it will bear 50% of the commission it bears, but the state will not give the company owner this million. A cash dinar. Rather, it will reduce it from financial obligations such as taxes, fees, or anything that must be paid to the state.
*How will the manipulation be?
But the process as a whole will be “annoying and tempting” for the merchant at the same time, as it is annoying because he has to bear the electronic payment commissions on behalf of his customers, and it is also tempting because he will obtain privileges from the state, especially if he can obtain these privileges and reductions in taxes and fees already without being exposed. For the annoying option of bearing his clients' commissions.
This means that merchants may raise the prices of the goods, commodities, or services they provide, even if by a small amount, in order to be equivalent to “taking the commission in advance and charging it to the customer, but as part of the price of the commodity and not a commission.”
At the same time, the merchant or seller will receive a reduction in half of his financial obligations to the state, without paying a single dinar, as he will go at the end of the month to inform the state that he paid two million dinars, for example, in commissions instead of his customers, but in fact, he obtained these two million in advance from By raising the price of goods to customers, at the same time, he will obtain a reduction in his obligations to the state in terms of taxes and fees by exactly half.
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