Experts: State actions reflect the confidence of banks

by day dreamer Wed 18 Mar 2015, 9:59 pm

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Post n°1

Experts: State actions reflect the confidence of banks

by day dreamer Wed 18 Mar 2015, 9:59 pm

Experts: State actions reflect the confidence of banks

3/19/2015 0:00

In the workshop recognized the difficulties of obtaining the implementation of tax mechanisms
BAGHDAD - morning
Approved workshop of the difficulties facing the implementation of the mechanism of remittances imports after an in-depth review conducted by the concerned authorities to implementation, the Central Bank of Iraq, Association of private banks in Iraq, the General Administration of Customs and the General Authority for taxes and stepped up workshop efforts to overcome the obstacles after listening to the departments of banks observations on the difficulties faced by their banks and how to deal with different vocabulary related to the instructions on the operations of obtaining the tax deduction or insurance and customs in advance about the value of goods imported.
He said the President of Association of private banks in Iraq and Wadih Handal during the opening of the workshop in the presence of an economic advisor to Prime Minister Abdul Hussein Al-Anbuge and head of the Securities Commission Abdul-Razzaq al-Saadi and the Undersecretary of the Ministry of Commerce and a group of experts and managers of banks to stage the country is facing and which require concerted efforts to transit requirements.
Cahoots

He said Handal said the responsibility to be borne by the banks reflect their importance in driving the economic file is these contribute effectively part of the role of the decree of the private banking sector, also emphasizes the depth of close cooperation with the sponsor banks and trust of high central bank capabilities of banks to help the state in maximizing budget resources , pointing out that the representatives of the concerned authorities provided answers to the many questions received from representatives of the private banks.
He praised the great cooperation between the central bank and private banks, pointing to the importance of the presence of the two parties in one place to evaluate the banking business.
For his part, General Manager of the Central Bank d. Ihsan Yasiri merits of commissioning and ways of implementation, indicating that the mechanisms Sttodh through continued cooperation with the relevant authorities.
He said that the government issued a decree stating Bjbabh taxes in accordance with Article 50 in the general federal budget law, the legislature intended to direct and indirect taxes.
The demands of customers

He pointed out that the Central decided to get rid of administrators and delivered the largest private banks burden to deal with the demands of customers (traders of them) and consider the project, including, as the central decided to finance the bank account abroad, and treat private banks and provides an account of the requests that are deciding whether to customers within 15 days.
He noted that the agreement with the General Commission for Taxes and the General Authority for Customs and banks to ensure the deposit value of their requests in Iraqi dinars before 15 days, and the bank will deduct the tax value in accordance with the regulations, as they are deducted drawing Alkmarki, pointing out that the process means provides a deduction of tax guarantee one stage.
The student Yasiri banks that offer customers requests to expedite the supply of the Central Bank to detail, noting that after the rating paragraphs tax materials found to be prepared up to (10) Thousands paragraph, imposed on (8) Thousands of which tax is less than 15 percent, including the (5) Thousands imposes by 5 percent or less.
Prices of materials

The banking expert Majid picture has pointed to the importance of involving the Ministry of Commerce in the process so that it can provide us with the prices of the country of origin, in order to, but there will be two prices for the first material provided by the merchant and the second provided by the ministry, pointing out that the process governing the trade, but need more time, where The 15 days is not sufficient to complete the transaction, referring to the difficulty of calculating the profits to the presence of expenses and the mechanics are not stand her.
Import licenses

While the Deputy Minister of Trade Mohammed al-Samarrai said the ministry began two years ago to issue import licenses to be issued electronically in the coming period, stressing the importance to cooperate Central, taxes and customs, with the Ministry of Commerce and its role in the completion of the process.
And the need to further enhance the assets of private banks in the correspondent banks to be control of the reasons for currency smuggling.
He returned Ihsan Yasiri to say that tax revenues will increase to 400 percent, indicating that the future directions aimed to unify the tax in all of Iraq's border ports without exception.
Feasibility

Executive Director of the Association of private banks in Iraq, Tariq said (morning) that the seminar discussed the topic in a very important and raised many questions by private banks, where he was to this open dialogue between the central bank and private banks and other prominent role in clarifying the mechanisms of future work and stakeholders.
He said the Association commends the central action, but is keen to be a clear implementation mechanisms to be applied properly to ensure smooth high in the implementation and verify the economic viability of the country.
Representative of the GCT stressed the importance of the application of this system and to address all the gaps, indicating the need to spend the country in this regulatory process and we Connected with the Central Bank and the Association of private banks and entities with ties to the success of this approach .mder General of the General Authority for Customs Brigade wise Jassim said the constituency executive and application instructions is the first step on the road to the organization, pointing out that the customs fees fixed in all the ports, and we are going to be consolidated with the Kurdistan region, referring to the approaching global company to introduce a new electronic system.

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