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Taxes to support the budget and encourage private sector
17/12/2016 0:00
[rtl]Adopted by most countries to protect its economy
BAGHDAD / Imad emirate
taxes represent the most important way to encourage economic productive sectors, vital projects are exempted from some or all taxes, permanently or temporarily, or by negative taxes (subsidies) granted to these projects.
And stresses involved in economic affairs of Iraq need to activate this path due to the decline in the general budget revenues due to lower world oil prices from record rates, which requires the diversification of the general budget revenues to bridge the fiscal deficit gap
and within this thread economic Academy Dr. Wafa James Baldwin showed, there are many productive sectors but you need large amounts of capital of Iraqi private sector alone can not provide, makes it imperative for the state to provide capital for the promotion of productive sectors while providing tax breaks to encourage the development of those sectors.
It James Baldwin in an interview for »morning» of the tactics used by the state in this area is the customs tax of protectionism in common use in most developing countries in order to provide protection for emerging industries to compete with foreign products in the domestic market.
It said, it is an acceptable justification in the early stages of the process of economic development , as are emerging industries is not yet the elements of success completed, in the early stages of the process of economic development is marginal production expense of the new medium industries are relatively high because of the gap caused by years of isolation from the global economy.
It is intended to «marginal product} that product or item that makes its maker does not earn a profit nor loses and gets enough income to continue the production process, or in other words, if the price fell refrain from production and the expense of the production called marginal cost of production.
She drew James Baldwin that rely on the freedom of trade policy makes emerging industries can not compete with foreign rivals, industries are arising in the advanced industrial environment has available many advantages that are not available in developing countries, including the level of master infrastructure services in developing countries are not on the pot the same efficiency with those in developed countries.
Confirmed, the objective of the tax is no longer access to financial revenues only, but has become a tax roles and goals of the task used by the state to intervene in economic activity and speaking through unintended changes at the macroeconomic level, comes the economic role at the forefront of these roles after the financial role of Association.
And it showed James Baldwin, said developed countries were able to do this role successfully on the ground using the tax as a means of achieving economic stability and the fight against inflation and deflation, what enabled them to build a customs wall fortified garrison thanks to customs duties.
She called James Baldwin at the end of her speech to the local product support through the garrison taxes Pmaajolh able to compete with imported goods, as it is not without the developing countries of attempts to protect the product support is not national Guetsadadtha, and that the protective role was not lost on the Iraqi legislature, but the degree of exposure in the economy National high and high marginal propensity to consume , which resulted in a higher marginal propensity to import to meet the growing demand in the light of the circumstances of the production difficult.[/rtl]
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