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Central imposes a program to determine tax rates. . . And private banks critici
March 23, 2015,
The Iraqi Association of private banks, on Monday, the central bank imposed a special program for tax guarantees and customs of goods, as shown that this procedure came under the guidance of the Council of Ministers to determine the work of traders and keep them away from illegal transactions in foreign currency smuggling, the Agricultural Bank confirmed that work on this The program will reflect negatively on the Iraqi consumer, because it will cause rising prices of imported goods.
The executive director of the Association of private banks in Iraq, Tariq vacationer in an interview with the (long-Presse) on the sidelines of the Association held a seminar for banks in Baghdad, "The Association of private banks in Iraq held a joint seminar with the tax authority to explain the program, which will be worked on by the banks regarding the tax and customs guarantees, and this program is not the cons as far as the consequences for making mechanism. "
He vacationer "During the seminar some queries raised by the representatives of the banks and we talked to many of the issues and all this was to ensure the correct conversion operations outside of Iraq and also not get any breaches"
For his part, director of public relations at the Association of Iraqi private banks Majid Michel said in an interview with the (long-Presse), "The new program presented by the Central Bank of Iraq came under the guidance of the Council of Ministers," noting that "the objective of this system is to identify the merchant work and keep him out of any illegal transactions, which was followed by some traders in hard currency smuggling out of Iraq. "
He added that Michael "The new program will put the merchant toward a clear and present it all transactions and archives will each material imported tariff code and tax Kmarkip."
He Michel said that "this program has been reveled abruptly, which reflected negatively on the banks and the private and public sectors," pointing out that "this application was supposed to show it on a trial basis for a minimum of six months to enable the employees and executives of the banks recognize it more and be able to provide outstanding performance in this program. "
And Michelle that "the program reason at the moment a big uproar from the technical aspects, and our objective was to work on the collection of all the banks and give a lecture by specialists, and despite this, we can not judge the current time on the program, but we will wait and anticipate how to work it and import of goods by importers to watch over the positivity or negativity of the Iraqi citizen. "
In turn, the Executive Director in the GCT spokesman Abdul Aoun said in an interview to the said (range Press) "We are now in the process of transmission, the quality of the old mechanism was adopted by the central bank to entirely different from its predecessor a new mechanism and means to cover foreign goods in hard currency and a conversion to ensure the Treasury rights including tax and customs guarantees and ensures later from entering the goods. "
Aoun added that "this mechanism Court inter measures, including e-binding measures by the central bank and banks and border crossings and its General Assembly and rely on the establishment of a database."
He said Aoun "The session of the Association of private banks came to overcome the obstacles and problems which naturally get because of the mechanism used previously, and I think in the coming period if they were to work according to the program which is newly developed, it would be in a better position and will not face any obstacles but needs to support and stand to him by everyone. "
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