Procedures to maximize the non-oil resources
Procedures to maximize the non-oil resources
2/25/2014 0:00
No more than nine trillion dinars per year since 2010
BAGHDAD – Farah pumice
There is no doubt that Iraq has stockpiled oil tremendous puts him at the forefront of the world, especially with the escalation of the business to increase production and export, but the adoption of its imports by 95 percent in the preparation of budgets met with criticism from economists, called for the government and the concerned authorities to look for new ways to contribute to maximize the non-oil imports. taxing study suggests the Ministry of Finance included in the general budget for the year 2014, that the non-oil revenues since 2010 to 2014 did not exceed nine trillion per year. placed the study inter procedures for the purpose of maximizing the resources are not actual oil, notably the completion of tariff law tax and implementation, as it will lead the implementation of this law to the additional support of the budget, in addition to the General Authority for taxes to expedite the submission of a bill to apply the tax on the sales of mobile phone for the purpose of application in the year 2015. well as the recommended budget in 2014 to impose a tax on restaurants and luxury hotels, and obtaining tax cigarettes, with study options for Order joint reviews of doctors and hospitals, as well as the prohibition of legislation which encourages investments involving tax breaks as an incentive, and others. estimated revenues of the federal budget for the financial year 2014 / more than 139 trillion dinars, while the total expenditure of more than 170 trillion dinars by a financial deficit It is estimated more than 30 trillion dinars, after taking into account the revenues derived from the export of crude oil on the basis of the average price of 90 dollars per barrel and the rate of export of three million and 400 000 barrels per day, including the amounts of crude oil produced in Kurdistan. improve departments and called for the study to invest resources to improve the departments of tax and customs in Iraq, with an emphasis on non-expansion of the tax breaks and exceptions. has also urged the budget on study opportunities for the collection of taxes by the cooperation discreet between the main actors of the relationship, which the central bank and the ministries of oil, trade and the GCT and the General Administration of Customs, as well as the possibility of achieving an improvement in relation to the issues of taxes related to oil through better cooperation between the Energy Committee in the Council of Ministers and the Department of Accounting at the ministries of finance and oil. Commission permanent study suggested forming a committee permanently for the purpose of supervision and follow-up session documentary and accounting entries and recorded accounting records and documents associated with them through the formation of a high-level panel comprising representatives of the General Secretariat of the Council of Ministers and the Department of Accounting and General Commission for Taxes and the Iraqi Central Bank and the Ministry of Oil to be representative of the Ministry of Oil of the Economic Department and the Department of the contract and licensing, while the Sub-Commission on the second has recommended the implementation of the tariff law and the imposition of sales tax on mobile phones and study the possibility of reducing the tax breaks gradually., but the draft budget predicted increased rates of production and export of oil under the influence of investment by foreign oil companies and the gradual replacement of infrastructure desolated in this sector, however, did not reflect the growth in contributions from non-oil revenues in nominal terms the increase Expected changes. indicated that a member of the Finance Committee MP Abdul Hussein al-Yasiri said in an earlier statement that “Iraq’s budget reliance first on oil and its decline would be a disaster, as happened in the 2008 budget,” he said, adding that the reliance on oil means dependence on the unknown, because the stop the export of oil or the occurrence wars international threaten the country’s economy. also called Yasiri the need to build a market economy and the building of the agricultural sector which is the food basket president of Iraq, and the development of agriculture of interest and activate the industry and encourage the private sector, stressing the need that the government is working to diversify the sources of state revenue and non- total reliance on oil, to avoid the risk of global crises on the national economy, through the activation of economic sectors such as agriculture, industry and petrochemical sector interest and oil refineries, as well as the establishment of an international economic zones in the area of a triangle where the FAO will be parallel to the annual import of oil revenues.
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