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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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    Central Bank announces new tax system limits the "money laundering" and reduce "corruption"

    Proven
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    Central Bank announces new tax system limits the "money laundering" and reduce "corruption" Empty Central Bank announces new tax system limits the "money laundering" and reduce "corruption"

    Post by Proven Tue 17 Mar 2015, 11:25 am

    Central Bank announces new tax system limits the "money laundering" and reduce "corruption"

    Editor: BK, RS 03.17.2015 5:58 p.m.



    A new system of central WNBC maximize revenue and reduce corruption

    Long-Presse / Baghdad

    Iraqi Central Bank announced on Tuesday, the adoption of a new mechanism for the payment of taxes and control of "money laundering" through the prepayment of taxes and customs of the goods entering Iraq, returned that will double the country's imports, while saw the board of the border crossings, that the new system "is not without problems "in spite of the possibility of a downgrade" corruption. "

    This came during a symposium held by the Association of Iraqi banks, today, during which he hosted a group of government officials, economists and managers of banks, and attended the (long-Presse).

    The Director-General of the issuance of the Central Bank of Iraq, Ihsan al-Yasiri, in an interview with the (long-Presse), "The bank will depend a new mechanism to control money laundering and selling the dollar against the imports," noting that "the mechanism is very simple and achieved two goals: first, a national information system, and the other is to ensure access to resources for the treasury, because the bank would receive advance tax and the private Alcomerk imported goods, for every dollar sells for banks to import. "

    The Yasiri, that "it is through an electronic mechanism in the banks," noting that "the system calculates the value of the tax and Alcomerk be pushed them all the quality of goods entering Iraq, to ​​meet the bank's cost and sends it to the Departments of customs and taxes," expected to "contribute to the system doubling of resources Iraqi treasury. "

    But the director general of the Authority for Customs, Hakim Jassim grave, believed that "the new mechanism is not without problems, although it will increase the customs imports and reduce administrative corruption."

    He said the grave in an interview to the (long-Presse), "The new experience will not be without problems although it is a step for the development of economic and trade situation in Iraq," noting that "the new system will see some errors in the beginning as a result of not linking some border crossings mail order." .

    He predicted the Authority Director General of Customs, that "the new system contributes to an increase of imports by 200 percent."

    For his part, saw the executive director of the board of the tax, the banks get the dollar is going to be interested in procuring tax under the new system, it needs to be returned infrastructure to ensure the application effectively.

    The spokesman said Ardan, in an interview to the (long-Presse), "The theme adopted by the Central Bank of Iraq to protect the dollar secures access to the customs and tax dues, despite the problems that included," returned to "the new system needed to infrastructure to ensure the application effectively."

    He explained Ardan, "The new system marks the beginning of the establishment of a centralized database," asserting that "banks that get the dollar is going to be interested in procuring the tax."

    He said Executive Director of the Tax Authority, said: "The system includes a lot of technical details and procedures aimed, among other objectives, to maximize revenue through tax-taking."

    The government officials and economists emphasized earlier, that Iraq is losing annually an amount up to $ 20 billion in tax revenues, due to corruption fulfillment of customs duties in the border ports and tax evasion.

    The Ministry of Finance, in (the thirtieth of January 2013), that the imposition of tariffs on imported goods will be starting from 2014, and by no more than 20% of their value, indicating that the fees will be imposed at all border crossings, including the Kurdistan region.

    The Iraqi government announced earlier, for Amadaha applying tariff law gradually according to a fixed timetable, and stressed that the law will include some of the goods.

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    jedi17
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    Post by jedi17 Tue 17 Mar 2015, 11:55 am

    so, basically, items will be taxed before they enter into Iraq.  The business doing the importing will have to state what they intend to import, then they will be taxed on it, then they will receive their American $ to buy the item they intend to import.  Makes a lot of sense for both receiving the taxes, as well as stopping the American $ from ending up in terrorist hands.....smart
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    Central Bank announces new tax system limits the "money laundering" and reduce "corruption" Empty Re: Central Bank announces new tax system limits the "money laundering" and reduce "corruption"

    Post by Neno Tue 17 Mar 2015, 12:08 pm

    Tarriffs.
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    Post by jedi17 Tue 17 Mar 2015, 12:13 pm

    yes...tariffs...taxes....state it anyway you wish, but they have been working on this since 2011.....finally it looks as though it is getting somewhere
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    Post by Neno Tue 17 Mar 2015, 3:12 pm

    jedi17 wrote:yes...tariffs...taxes....state it anyway you wish, but they have been working on this since 2011.....finally it looks as though it is getting somewhere
    Not to mention it helps with WTO acceptance.
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    Post by jedi17 Tue 17 Mar 2015, 3:15 pm

    a international recognized currency that trades on the forex is also a big help
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    Post by fonz1951 Tue 17 Mar 2015, 3:24 pm

    jedi17 wrote:a international recognized currency that trades on the forex is also a big help

    wonder if this and wto are a catalyst for re value?
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    Post by jedi17 Tue 17 Mar 2015, 3:28 pm

    fonz1951 wrote:
    jedi17 wrote:a international recognized currency that trades on the forex is also a big help

    wonder if this and wto are a catalyst for re value?

    I hope not.  I am sure I read that Iraq will reach member status in 2016 for the WTO.  I am sure that they must have a recognizable currency before WTO.
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    Post by fonz1951 Tue 17 Mar 2015, 3:48 pm

    jedi17 wrote:
    fonz1951 wrote:
    jedi17 wrote:a international recognized currency that trades on the forex is also a big help

    wonder if this and wto are a catalyst for re value?

    I hope not.  I am sure I read that Iraq will reach member status in 2016 for the WTO.  I am sure that they must have a recognizable currency before WTO.

    thanks for clearing that up for me, when you get to be a hundred and forty years old like i am and you have read 600,000 articles it starts to swizzle around in your head and you get all discombobulated and cant remember which is which.
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