MilitiaMan and Don861 Saturday PM "They Have The Green Light" 11-28-2020
KTFA:
Don961: Customs: Automating our procedures according to the ASYCUDA system will affect the development of the Iraqi economy
Economie| 07:00 - 28/11/2020 Baghdad - Mawazine News
The General Customs Authority announced, on Saturday, that the automation of its procedures according to the global AsyCoda system will be reflected in the development and development of the Iraqi economy.
The authority stated in a statement that Mawazine News received a copy of, that it is "urging steps and exerting great efforts to finalize the project of computerizing customs procedures according to the global ASYCUDA program in cooperation with the United Nations Conference on Trade and Development (UNCTAD)."
She added, "This project will have a positive impact on the development and organization of the economy as well as maximizing the state treasury revenues in the long run and will achieve a qualitative leap in the use of information and communication technology."
And she emphasized, "The application of this system will keep us up to date with the development in the exchange of information between us and the customs of neighboring countries in addition to facilitating trade and the global supply chain of exports and imports."
Ended 29 / h LINK
"The Automated System for Customs Data (ASYCUDA)”
MilitiaMan: The system as we have seen in the recent past, is a key to generating revenues with transparency between trading partners on many fronts. It is a large source of revenues that needs to be monitored fairly with as little corruption as possible, imo. The country of Iraq, is about to put on big boy pants and shoes to run into a global market. Delete the zeros and go!!! imo .. ~ MM
https://unctad.org/system/files/official-document/dtlasycudamisc2019d2_en.pdf
"The UNCTAD report describes the experiences of several countries in the world that implemented ASYCUDA, analysing its impact in terms of increase of total customs revenue, reduction of corruption (because of the elimination of human intervention in the handling of customs processes), reduction of wait times at the border, and enhancement of the capacity of Customs in general."
http://www.ddcustomslaw.com/in.....38;lang=en
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Don961: A surprising jump in the level of trade exchange at an Iraqi border crossing
2020-11-28 Yes Iraq: Follow up
A local official in Anbar Governorate revealed an "unprecedented" jump in the level of trade exchange at Trebil border crossing since its opening.
The advisor to Anbar province for energy affairs, Aziz Khalaf Al-Tarmouz, said in a press statement followed by Yass Iraq, that “the Tarbeel border crossing with Jordan, west of Anbar, recorded an increase in the pace of trade exchange for the first time since its opening, as the number of trucks coming from Jordanian lands towards the Tarbeel port reached More than 2000 trucks loaded with various goods per day. ”
He added that “the increase in the pace of trade exchange with Jordan represents a shift in the provision of goods needed by the local markets, indicating that“ the security forces conduct checks of trucks and their drivers to verify the goods and truck drivers and know the security situation, explaining that “all the roads that lead to the Tarbail border crossing With Jordan, security and stability, and that the security forces are carrying out operations to secure the international highway for the movement of goods and travelers. LINK
MilitiaMan: A final push to get the goods in before the change over from a PR to IR? (Program Rate to International Rate) As there may/will be taxes to be addressed, ones that won't be able to be hidden. The new system is about to be immediately activated. Their words not mine.. imo ~ MM
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Don961: Without amendments or reservations ... The green light to activate the "white paper" ... Iraqis face officially "harsh reforms"
2020-11-28 Yes Iraq: Baghdad
Today, Saturday, the Parliamentary Finance Committee in the House of Representatives called on the government of Prime Minister Mustafa Al-Kazemi to start implementing the provisions of the White Paper.
And it included a document issued by the committee and addressed to the Presidency of the Council of Ministers, that “Out of the solidarity responsibility of the Iraqi Council of Representatives, represented by the Parliamentary Finance Committee, we invite you to start implementing the provisions of the white paper that you submitted to the Finance Committee.”
She added: "The fact that most of what is mentioned in it falls within the powers of the executive authority to determine the timelines necessary for implementation and the institutions responsible for their implementation, so that performance can be monitored and evaluated."
And she continued: "We would like to send you some additional urgent reform measures proposed by the Finance Committee, which can be reflected positively in the short term to address the financial and economic crisis that the country is going through, hoping to work on it."
In conclusion, we see in the white paper progress in the economic vision that seeks to form a legally binding economic constitution to be implemented in the future financial and economic life of the country if it is legislated, and this requires strong political will in financial and economic reform.
LINK
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"The proposals sent by the Finance Committee to the Council of Ministers include urgent solutions to the financial crisis and give the government a real opportunity to remedy its repercussions or mitigate them at the very least," Muthanna Abdul Samad Al-Samarrai, deputy head of the Parliamentary Finance Committee, said in an official statement.
"the Finance Committee sent a letter to the government demanding the necessity of implementing the recommendations of the white paper presented by the Ministries of Finance and Planning, given that most of these recommendations are at the core of the jurisdiction and powers of the executive authority, and that the committee emphasized the need to determine the necessary timings and institutions responsible for implementing the recommendations in order for Parliament Performance monitoring and evaluation. "
"It provides the opportunity for the international monetary institutions to control our economic situation in general. " LINK
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The Parliamentary Finance Committee issued proposals to address the financial crisis in Iraq, which included reviewing the exchange rate of the dollar against the dinar, establishing a national telecommunications company and imposing a value-added tax.
The reforms presented by Parliamentary Finance included, from three axes, the first entitled Maximizing Revenues and Rationalizing Expenditures and included the immediate activation of compulsory collection of services provided to government, commercial, industrial, agricultural and household institutions, such as electricity, water, sewage, landlines and their deduction from grants and salaries, in addition to reviewing crude oil prices The provider of the refineries, and the unutilized government assets such as real estate and land flow through selling them by public auction, imposing a value-added tax of 12%, and obligating all institutions to send the Ministry of Finance's share of the total revenues up to date.
On taxes, it included the formulation of the tax withholding ladder by supporting the low-income segments by raising the minimum tax level, adjusting the tax price of the people concerned to a price close to the price of neighboring countries, and imposing annual taxes on all cars according to their type.
The reform paper also focused on the Ministry of Finance, in coordination with the Central Bank, to issue an electronic dinar for the purpose of collecting government revenues and deserved tags, reviewing the exchange rate against the dollar, deleting zeros, freeing banks from the hands of the Ministry of Finance and forming an independent financial body that includes banks, money transfer companies and insurance companies, and reducing The interest rate on investment projects. LINK
MilitiaMan: The interesting take away from all of the snippets above is about timing, necessities, who has the authority to do implementations of the recommendations within the reform papers, etc.. They have the green light it appears to get the activation in gear.
They are urgent in their motive! They clearly want immediate activation.
The AYSCUDA system is in place or is said to be very close now at ports and borders. The system is a globally renowned system for accurate and anti corruption methods of reporting and monitoring customs!!! They are all about transparency, being digital and mostly cashless in totality. Making it easier and faster to get revenues in to the coffers!
They even tell us they have a formulation for tax withholdings. They have taken into consideration of the poor. The UNCTAD / AYSCUDA know full well what they are doing and we all know that the G7, IMF, WB, BIS, et al., are all there to support Iraq in this endeavor. They will use the AYSCUDA system to do just that. It has block chain technologies imo..
So with the system looking to be activated immediately and with an adjusted tax pricing similar to Iraq's neighbors and in coordination with the Central Bank who will issue and electronic dinar for collecting revenues while adjusting (reviewing) the exchange rate with the dollar and deleting the zeros.. All necessary and immediate items on the agenda.. Not in months from now... No..
International entities of the largest kind are looking for the "correction" to the white papers. That correction per the UN, imo is the rate change from the program rate to an internationally acceptable one.
One that may be priced competitively to the neighbors.. Last I heard Kuwait is a neighbor with far less value.. imo .. JMTC.. That said, the efforts being taking are amazing!!! Looking very very very good imo ~ MM
"The UNCTAD report describes the experiences of several countries in the world that implemented ASYCUDA, analysing its impact in terms of increase of total customs revenue, reduction of corruption (because of the elimination of human intervention in the handling of customs processes), reduction of wait times at the border, and enhancement of the capacity of Customs in general."
http://www.ddcustomslaw.com/in.....38;lang=en
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Don961: 8 Advantages For Joining "Iraq" To The World Trade Organization
On November 28, 2020 The Independent / Amal Nabil / ..
The Iraqi Ministry of Trade is seeking to prepare a plan to join the World Trade Organization, confirming that the accession will contribute to increasing national production and providing job opportunities. Iraq prepared a plan to join the World Trade Organization, represented by the restructuring of the National Committee on accession, as well as the sub-committees emanating from it, to complete the accession files, as well as expedite the enactment of laws, and the preparation of draft laws related to the organization's agreements.
Iraq's accession to the World Trade Organization has many benefits for the economy, which suffers from stagnation due to the decline in oil prices and the spread of the Covid-19 virus.
Advantages of Iraq's accession to the World Trade Organization
1- Creating a strong, integrated Iraqi economy capable of competing with the economies of the OIC member states in general, and the neighboring countries' economies in particular.
2- Joining the World Trade Organization will allow Iraq to enter into fair competition for goods and services with other member states.
3- Increasing national production and providing job opportunities for the unemployed, and thus there will be a noticeable increase in per capita income and total output.
4- Transforming the national economy into a free economy that depends on free trade, and this would help push producers towards producing products with high specifications.
5- Expanding the markets of the OIC member countries and encouraging exports due to the decrease in customs duties
6- Reducing unemployment rates and creating more job opportunities.
7- Encouraging local and foreign investment.
8- Protect local products from the risks of dumping imported goods. LINK
MilitiaMan: They have a new system in place to monitor the trade.. AYSCUDA... Looks like all is coming to light and quickly! They'll need to have everything up and running for awhile.. But, be sure, the new system will be in place prior too.. imo Wow! ~ MM