IMF discusses strengthening of tax revenues in Iraq

IMF discusses strengthening of tax revenues in Iraq

29-03-2017 10:35 AM

IMF discusses strengthening of tax revenues in IraqEast News –

Representatives of the Iraqi private sector discussed with a delegation from the International Monetary Fund and the recent approval of a loan for Iraq, for the payment of arrears to contractors and suppliers of Iraqis and peasants, by the government and the ways to solve this problem, given their importance to the stability of the economy. He asked the head of the IMF mission to Iraq Christian nut at a meeting in Baghdad, about the possibilities that increase state revenues, including the activation of direct and indirect taxes, including those imposed on non-oil products ». He pointed out that the tariff «ranged from 5 percent to 10 percent, which is not the correct way in which the customs revenue pool.» He stressed the need to «change this way for up to 30 percent». He said that «the fastest gains and revenue come from the organization unit tax Almklvih, these achieved significant revenue imposing on a slide adult merchants.»

Coconut called «a recruitment freeze until the development of management, because the high proportion of staff in the civil service was a way to satisfy some of their employment without regard to efficiency, this system will lead to a deficit over the next ten years». He stressed «the importance of limiting the ration support to the poor», described as «the business environment in Iraq as« more complex than the other countries, which is slowing down because of the lack of security and inadequate electricity and not to collect dues ».

Coconut has not overlooked the «weak banking sector and the importance of strengthening business through bank restructuring« Rafidain »and« rational »government, and wide open space in front of private banks with the need to assess the weaknesses and the correct foundations for the fight against money laundering, it can resort to the Integrity Commission and specialized organizations such as IFC ».

The participants discussed the points that contribute to the upgrading of the economy, said economist Ibrahim al-Baghdadi, in an intervention during the meeting that Iraq «began collecting customs tariffs which doubled its resources in some customs ports to more than 30 times, while the collection of electricity increased 20 times, and referred by the Ministry of Electricity collection of electricity fees on companies under investment contracts, and began to show positive results ».

The head of the Union of Contractors Ali Snava, b «the launch of arrears of transactions Dqgaha Supreme Audit». He pointed out that the Federation of Contractors «includes 34 thousand contractors, a large part of their suffering is happening in the tax stage of settling accounts, because the amounts of tax deductions are reserved to the provinces, and calls for the tax departments to complete the tax settling accounts.» He confirmed the economic researcher Lubna al-Shammari, the importance of «accelerating the implementation of reforms to clear their impact on the economy and support opportunities to strengthen infrastructure». It considered that «the banking sector reform is a gateway to various investments to Iraq».