Iraqi News and Highlights Saturday AM 8-8-20
Iraqi News and Highlights Saturday AM 8-8-20
TLM724 Administrator BondLady’s Corner
A Call To Tighten Measures To Combat Tax Evasion
Saturday 08 August 2020 89 Baghdad / morning The Legal Committee in the House of Representatives considered the governmental measures at the border crossings as insufficient to combat tax and customs evasion, indicating that the country suffers from a stifling financial crisis, which calls for intensifying measures to combat tax evasion, which is overwhelming.
A member of the committee, Hussein Al-Uqabi, said in an interview with Al-Sabah: Tax and customs evasion causes waste of large resources and its punishment is harsh in all countries of the world, expressing his regret for not combating this scourge at a time when the country suffers from a stifling financial crisis.
Al-Uqabi believed that the government's handling of tax and customs evasion in landing military forces at the border crossings is absolutely insufficient, indicating that the solution lies in a number of points, including making proper contracts and avoiding contracting with failed companies that do not fit the legal description.
Al-Oqabi added that solutions begin by controlling government contracting procedures according to legal formulas, and in the border cases, there are three things that the government must take, which is the presence of a security force, automating the procedures electronically, reconsidering the specialized employees, and forming committees to monitor this process, pointing to tax and customs evasion that takes place through outlets The region, as merchants and importers transfer their goods through the region's outlets in order to evade tax and customs accounting, especially valuables, because the customs tariff rate is reduced to the limits of 70 percent and does not go to the general budget.
Al-Oqabi noted that he submitted a proposal to collect a tax from the currency auction at a rate of 10 percent, and these proposals and ideas could address tax evasion in addition to reviewing the tax and customs laws, unifying fees and making some taxes federal and some of them local, so that there is discrimination between them and this is the responsibility of the government that we are waiting for Including steps in this direction. LINK
The Border Outlets Convert The Budget Income From Rentier To Revenue
Saturday 08 August 2020 28 Baghdad / Mustafa Al-Hashemi The Market Research and Consumer Protection Center, those in charge of the economic file in Iraq, called for intensifying work on the side of the border crossings and enhancing their role, due to their economic importance in terms of diversifying budget revenues and converting them from rentier to revenue, in a way that would revive the internal economy, reduce unemployment rates and provide job opportunities.
The consumer audience
The director of the center, Dr. Yahya Kamal Khalil, said in a statement to Al-Sabah: “It is necessary to put in place plans to enhance the work of the border crossings and the government's control over them to limit the entry of goods of poor origin that do not match the Iraqi standard specifications.”
Khalil emphasized that “the entry of inferior goods inflicts great material damage on the public of consumers. Because they are supposed to have paid money for a certain commodity that should meet the standard specifications, not that they get an inferior good for their money.
He pointed out that «all border crossings are staffed by inspection bodies to ensure the safety of goods entering the country, Except that there are inferior goods A counterfeiter enters the market illegally or through smuggling ».
Official outlet
The center’s director suggested “establishing an area or outlet for Karamk in the Kirkuk governorate that is officially subject to the central government, as it will support the entry of good goods that match the Iraqi standard specifications, as well as strengthen control over the market And enhancing revenues to serve the national economy ».
And Khalil said that «the unemployment rate, which reached 31 percent - according to the Ministry of Planning - is a negative indicator in the Iraqi economy, which has the ability to diversify its financial revenues in the event that other productive sectors, such as tourism, of all kinds, industry, and agriculture, are activated, stressing that« diversification The revenues will contribute to providing job opportunities, which will reduce unemployment and provide job opportunities in the public and private sectors.
Annual revenues
The economist Bassem Jamil Antoine confirmed that "the state treasury will get 15 billion dollars annually if the fight against corruption continues at the border crossings."
He added that «closing the borders and applying the customs tariff law contributes to an extremely large increase in local production, as it will prevent the entry of foreign goods that are similarly produced in Iraq,» indicating that «the revenues of the border outlets are a key factor in feeding the state budget, as it was paying 50 percent of the budget. Iraq in the past, there are more than 22 border outlets across the country ».
Antoine believes that «there is an absence of a specific curriculum for import, so we need to set a customs tariff in accordance with international laws so that there are no jurisprudence, and that there be inspection committees characterized by efficiency, experience and integrity with the unification of the various bodies such as the Ministry of Trade, the Central Bank and Customs, and that the income tax is based on value The real goods that enter Iraq ». LINK
Economic Spokesperson
Saturday 08 August 2020 38 Thamer Al Himas Amidst the crowding of events and the anticipated shifts from Corona to oil prices, to the global economic crisis, it has become difficult to develop visions and plans without looking through them, because the economist looks into the future with the eye of the present, and we are also a difficult number in the regional and international equation, we are directly affected by oil And so are all rentier economies.
Our economy and our finances have become so far dependent on the fluctuations of the petro-dollar, and since we are on the verge of the opposite of rentierism to sustainable development, it has become appropriate at this juncture to have an economic spokesperson who is a reference,
because our society has been distorted by the absence of the middle class that was the mother class, and the alternative was either state capitalism For a period before 2003, a parasitic class tried to fill the two void, and the result was corruption through quotas that embodied financially and monetary, and generated distortions and circumvention of the law when it ignored the theft.
Now, this segment seeks to whitewash its mistakes as a cover to launder its money, and this is a natural reaction that does not take place without meaningful people convinced that economic policies are not correct to build on their rubble, which means that there is a counter-attack for the decisive battle, and here comes the role of the economic spokesperson who leans on the concerned in the circles Economic, financial, monetary and the majority of industrialists, farmers and real merchants, armed with a national will.
The previous official position is illusory that there is a link between development and democracy, this illusion created from democracy distorted by quotas is just an excuse for the decline of local production by permitting borders under the democratic apparatus and its collusion, and here comes the role of the economic media, and through the facts, the spokesman will be able to argue to explain to us, for example, where it is located.
Cases of corruption, suspicious economic deals, or incomplete local tenders and their predecessors quickly deviate from their objectives, so that it is difficult even to comment on their margins because the deal was concluded in the dark, and the shortage becomes a sore wound with complications, the most important of which is the loss of confidence of the citizen and the foreign and local investor and this is what We harvest it now.
The transparent observer convoy spokesperson makes transactions not take place without his knowledge of his revealing light, which confirms that we have a democracy that keeps pace with development and serves it and not the other way around.
https://alsabaah.iq/28404/%D8%A7%D9%84%D9%86%D8%A7%D8%B7%D9%82-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A
Corruption In The 20 Billion Grant ... Al-Mousawi 'Gives' The Ministry Of Health 15 Days To 'Prove Its Innocence'!
Praatha News Agency86 2020-08-08 Parliament member Jawad Al-Mousawi demanded, on Saturday, the Ministry of Health to provide him with contracts to purchase medical devices within 15 days due to suspicions of corruption.
Moussawi said in a statement (August 8, 2020), "This claim came after he obtained information indicating widespread corruption in contracts for the purchase of medical devices within the 20 billion grant allocated to the Ministry and its departments across the country."
A member of Parliament gave the Ministry of Health 15 days to provide him with the contracts referred to in order to study them and ensure that they are free of corruption.
Al-Mousawi called on the Ministry of Health to "organize the answers for each department separately, as well as listing them in tables that include the name and model of the device in addition to its price and the period of warranty." http://burathanews.com/arabic/news/374282
A Slight Decrease In The Dollar Exchange Rate
Time: 08/08/2020 11:18:35 {Baghdad: Al Furat News} The exchange rates of the dollar on the Al-Kifah Stock Exchange decreased slightly, today, Saturday, at a time when it recorded stability in the local markets.
Where the Kifah Stock Exchange recorded 123,800 dinars per 100 dollars, while the Kifah Stock Exchange last Thursday recorded 123,850 dinars per 100 dollars.
Selling and buying prices in banking shops:
The sale price of the dollar = 124,500 dinars per 100 dollars.
The purchase price of the dollar = 123,500 dinars per 100 dollars. LINK
Salih Stresses The Need To Strengthen Iraq's Openness To The World Through The Development Of Transportation
Time: 08/08/2020 14:26:29 Read: 1,209 times (Baghdad: Al Furat News) The President of the Republic, Barham Salih, received today Saturday, in Baghdad, Minister of Transport, Nasser Hussein Al-Shibli.
During the meeting, the President of the Republic stressed, according to a statement received by {Al Furat News}, "the necessity" to exert efforts to consolidate Iraq's openness to the world by developing various transport sectors as it is an important link between continents and countries, stressing the importance of adopting international standards in providing better Services for citizens. "
Minister Al-Shibli presented to the President, "a detailed explanation of the Ministry's workflow and the plans that it is hoped to follow to revitalize its level of performance and improve services in a way that reflects Iraq's bright image in front of the world." LINK
Due To The Uncertainty Of Demand, Oil Is Falling Below $ 45
Time: 08/08/2020 09:18:48 Read: 1,157 times {International: Al Furat News} Oil prices fell by about 2 percent, which reduced their weekly gains, against the backdrop of fears that the global recovery would falter due to the return of the rate of Corona virus infections to the rise.
The return of the growing frequency of infections remains a major problem for markets and demand expectations, while cases are increasing in a number of US states, and India recorded an unprecedented daily jump in injuries, and more than 700,000 people died due to the pandemic around the world.
Brent crude was settled down 69 cents, or 1.5 percent, to $ 44.40 a barrel, and US West Texas Intermediate crude fell 73 cents, or 1.7 percent, to $ 41.22.
On a weekly basis, Brent rose 2.5 percent, while West Texas Intermediate gained 2.4 percent.
Talks between lawmakers in the United States have stalled over a new stimulus package, and at the same time, US President Donald Trump has threatened to withdraw White House representatives from the talks and to issue in return executive orders to deal with economic needs. LINK
Former Oil Minister: Iraq Will Lose $ 21 Billion Due To Its Commitment To The OPEC Plus Agreement
Ibrahim Bahr al-Ulum Energy Economy News - Baghdad: Former Oil Minister Ibrahim Bahr al-Ulum said that Iraq would lose $ 21 billion due to its commitment to the OPEC Plus agreement for two years.
Al-Ulum added in an electronic seminar on "the impact of Iraq's obligations on OPEC Plus decisions on the Iraqi economy," followed by "Economy News", that Iraq will pay oil companies money for every barrel produced or not, and the Ministry of Oil will pay 750 million dollars for the cost of extracting oil that we did not produce. Because of OPEC Plus. "
He noted that reducing oil production will lead to a reduction in gas production associated with production, and will affect the production of gas supplied to gas stations and liquid gas that is used for cooking, which will lead to importing them from outside Iraq, and the Halfaya gas investment project and the expansion of Qurna gas and a number of other projects will also stop. .
And science showed that Iraq's production is supposed to reach 5 million barrels per day during the year 2022, and it is possible that we will lose 10 billion dollars during the next two years, due to our commitment to OPEC's decision, which will lead to the suspension of most of the projects in addition to disrupting the national effort to develop national fields because of this inability.
He noted that after the implementation of the OPEC Plus agreement, we will face a problem of returning the oil fields to their previous production, in addition to the difficulty of recovering the customers that we lost because of our commitment to OPEC Plus.
He stressed that Iraq's commitment to the OPEC Plus agreement curbed investment in its oil fields and this will lead to problems in the future, indicating that the previous government was supposed to work to exclude Iraq from OPEC Plus’s commitment through bilateral negotiations with influential countries in OPEC.
He explained that Iraq made a mistake twice, the first in the government of Haider al-Abadi and the second with the government of Adel Abdul Mahdi, because Iraq's shares for 26 years were invested by several OPEC countries, especially after the economic blockade on Iraq.
Number of observations 45 Date added 08/08/2020 https://economy-news.net/content.php?id=21327
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