Monday, 26 2010 Ministry of Finance: a new tariff will be applied next month and will raise the revenues to ten-fold
Alsumaria News / Baghdad
Predicted the Iraqi Finance Ministry, on Monday, that the application of the new tariff approved by the Presidential Council last February, to increase state revenues from customs to more than ten times the income under the previous tariff, indicating that the new tariff will come into force next month.
An advisor to the Ministry of Finance Zia Alckheon in an interview for "Sumerian News", the "duties in accordance with the new law, will increase for goods and services especially luxury ones, such as cars, beverages, cigarettes and other," noting that "the General Administration of Customs of Iraq has made according to the tariff regime the old income for the period from 1/1/2010 until 31/3/2010 sum of more than 94 billion Iraqi dinars from Iraq reconstruction tax of 5%, while revenue will rise to the same period, according to the new system of tariffs, to about 940 billion dinars, "he said.
Ocharalckheon and that "Iraq continues to be applied tariffs that have been developed in the era of U.S. civil administrator Paul Bremer and the amount of 5% of drawing Iraq's reconstruction, on all goods entering Iraq."
He drew a finance ministry adviser, that "the law of the customs tariff of the new would reduce flooding the Iraqi market of imported goods of bad, and provides at the same time customs facilities to Iraqi investors and foreigners," indicating that "the goods entering duty-free and free of charge, affect in the work of the Iraqi industrial sector, private and mixed, because prices are falling by the raw materials, the cost of production of the private sector, be higher than imported goods and commodities are affected in the Iraqi private sector adversely affected by the difference in prices. "
The Presidency Council of Iraq had ratified in February of this year 2010, a new law on customs tariff consists of 11 articles that proceed to its implementation three months after its publication in the Official Gazette, and is expected to start work on the new law next month, after the Minister of Finance issues instructions for to facilitate the work.
The law in the first article in it charged tolls customs on imported goods according to the rates set forth in the schedules of tariffs and agricultural calendar attached to this law, while imposing customs duties on imported goods not included in the agenda tariff tariffs at a rate not exceeding (20% ) of its value, and the Council of Ministers upon the proposal of the Federal Minister of Finance amend this ratio.
The U.S. civil administrator for Iraq Paul Bremer was decided on 19 September 2003 in the imposition of 5% tax for the reconstruction of Iraq on imports to Iraq, the economic and financial considerations such as improving the standard of living of the Iraqi people by ensuring the necessary financial resources to finance infrastructure projects and capital formation general economic development as well as from the role it could play in the development of international trade, free market economy in Iraq.
Alsumaria News / Baghdad
Predicted the Iraqi Finance Ministry, on Monday, that the application of the new tariff approved by the Presidential Council last February, to increase state revenues from customs to more than ten times the income under the previous tariff, indicating that the new tariff will come into force next month.
An advisor to the Ministry of Finance Zia Alckheon in an interview for "Sumerian News", the "duties in accordance with the new law, will increase for goods and services especially luxury ones, such as cars, beverages, cigarettes and other," noting that "the General Administration of Customs of Iraq has made according to the tariff regime the old income for the period from 1/1/2010 until 31/3/2010 sum of more than 94 billion Iraqi dinars from Iraq reconstruction tax of 5%, while revenue will rise to the same period, according to the new system of tariffs, to about 940 billion dinars, "he said.
Ocharalckheon and that "Iraq continues to be applied tariffs that have been developed in the era of U.S. civil administrator Paul Bremer and the amount of 5% of drawing Iraq's reconstruction, on all goods entering Iraq."
He drew a finance ministry adviser, that "the law of the customs tariff of the new would reduce flooding the Iraqi market of imported goods of bad, and provides at the same time customs facilities to Iraqi investors and foreigners," indicating that "the goods entering duty-free and free of charge, affect in the work of the Iraqi industrial sector, private and mixed, because prices are falling by the raw materials, the cost of production of the private sector, be higher than imported goods and commodities are affected in the Iraqi private sector adversely affected by the difference in prices. "
The Presidency Council of Iraq had ratified in February of this year 2010, a new law on customs tariff consists of 11 articles that proceed to its implementation three months after its publication in the Official Gazette, and is expected to start work on the new law next month, after the Minister of Finance issues instructions for to facilitate the work.
The law in the first article in it charged tolls customs on imported goods according to the rates set forth in the schedules of tariffs and agricultural calendar attached to this law, while imposing customs duties on imported goods not included in the agenda tariff tariffs at a rate not exceeding (20% ) of its value, and the Council of Ministers upon the proposal of the Federal Minister of Finance amend this ratio.
The U.S. civil administrator for Iraq Paul Bremer was decided on 19 September 2003 in the imposition of 5% tax for the reconstruction of Iraq on imports to Iraq, the economic and financial considerations such as improving the standard of living of the Iraqi people by ensuring the necessary financial resources to finance infrastructure projects and capital formation general economic development as well as from the role it could play in the development of international trade, free market economy in Iraq.
Alsumaria News
