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Economic parliamentary rejects tax to support the Federation of Chambers of Commerce
Date: Thursday, 16.02.2012 8:57
□ Baghdad / term follow-up
committee rejected the economy and investment parliamentary request of the Union of Chambers of Commerce awarded a percentage of taxes in the current year budget, revealing hosted by the central bank to change some banking procedures that hinder the work of Iraqi traders. A member of the Economic Commission Amer winner for "Twilight News" that his committee "did not agree to a proposal by the Federation of Chambers of Commerce, includes deducting a percentage of taxes, traders in the current year budget to support the Union," noting that "there is no merit in this request on the contrary, will add burden on the budget burdened with such applications and customizations. "
The winner of the "Union of Chambers of Commerce can obtain the increase they want by increasing the amount of annual contributions paid by traders to him," pointing out that "the Economic Commission approved the request of the Union to conduct some banking procedures to encourage the private sector."
and noted that his committee "will host the World Central to change the banking procedures that hinder the work of Iraqi traders, "stressing that" the Union called for activating the Tariff Act, and to make amendments to the paragraphs of the Commercial Agencies Law, which provides an inventory to deal with the agent of foreign, has supported the Commission such requests. "
and was a member of the Finance Committee Najeeba Najib has confirmed, that of its connection with the preparation of plans and programs of a strategy to support the banking system and tax in the country, indicating that these two systems need more legislation, laws, plans and mechanisms for their support
and the Finance Minister Rafie al-Issawi had discussed, last Sunday, with the U.S. delegation in the presence of Assistant Vice U.S. Treasury Secretary Neil will not be economic and political situation in Iraq and the region in general, and the two sides stressed the need to support the banking system and taxation in the country through the mechanisms, procedures and laws that increase the level of banking business in Iraq and to support the economic level and investment in it. "
Iraq seeks to support the banking system by bridging the inability of local banks to cover the financial guarantees required by the investment companies, which represent the problem of limiting the entry of companies specialized in the electricity sector, infrastructure and services.
In Iraq, there about seven state banks and 34 banks waged, mostly owned by foreign banks.
They state Baghdad Chamber of Commerce was established under the Law No. 40 of 1926, the first room was established under the national governance in Iraq, and then successively to establish other rooms in the rest of the provinces of the country. and passed the room with four stages is the first phase and start of its establishment in 1926 and practiced their work under the law No. 40 of 1926 and Law No. 100 for the year 1966 is characterized by this point alone the private sector to bear the responsibility of the Chamber of fully and then the second phase starts from 1968 until 1983 where they were enact the law No. 124 of 1969 and the subsequent issuance of Law No. 45 of 1973, which has involved socialist sector in responsible management of the Chambers of Commerce in Iraq side by side with the private sector either the third stage was the beginning of 1985 to begin this stage in the history room of Iraq after it was merged with the Federation of Iraqi Industries under Law No. 24 of 1983 The fourth stage began in the history of Iraqi Chambers of Commerce legislation of the law No. 43 for the year 1989, where he became a room under this law, economic organization for the care of professional affairs of private business and provide services and information as to him who is appointed to exercise its role in the country.
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