Al Furat News publishes the most prominent features in the 2021 budget
Al Furat News publishes the most prominent features in the 2021 budget
Posted, 12/22/2020 21:58:50
{Baghdad: Al Furat News} Our agency publishes the highlights of the draft fiscal budget law for 2021, which the Council of Ministers voted on Monday after an exceptional marathon session that lasted for three days.
An informed source told {Al-Furat News} that “the fiscal deficit in the budget amounts to 63 trillion dinars, and a 40% tax has been imposed on the salaries of presidents, ministers, deputies, general managers and special ranks.”
He added, “The non-inclusion of employees who earn less than a million in taxes, and the full deduction of income tax on salaries of more than one million dinars.”
Prime Minister Mustafa Al-Kazemi said in a press conference after the cabinet meeting and the vote on the draft law that “the budget will not affect the salaries of the employees of the two classes that make up the majority of the people,” indicating that “the target party in this budget is the upper classes.”
He stressed that “the budget only affected the salaries of special and higher grades, for
his part, Finance Minister Ali Allawi said at the conference:” We made a change in the dollar exchange rate to protect the economy, “pointing out that” ”
He added, “The budget is the first step in the path of economic reform.”
As for Planning Minister Khaled Al-Battal, he stated that “the volume of investment spending will be around 8 trillion dinars, and that the budget included the suspension train project, the Faw port, and a number of projects.”
Meanwhile, Minister of Labor, Adel Al-Rikabi announced during the conference, “40% of the salaries of the three presidencies will be deducted from the budget, and 30% of the total salaries of MPs and ministers will be deducted.”
A leaked document indicating that the government imposed new taxes on the salaries of senior state officials was revealed in a copy of the draft budget law.
According to information from the transcript, “the government imposed taxes of 40% on the salaries of presidents, ministers, deputies, general managers, and special ranks without prejudice to the salaries of junior employees who will not be taxed down to the recipients of one million dinars.”
The tax deduction will be “symbolic” on salaries above one million dinars , “according to preliminary information briefed a government official made a copy of the budget.
alforatnews.com
