Central Bank: the Iraqi economy will not develop unless the activities are expanded tax

Deputy Governor of Central Bank of Iraq on Sunday that address the economic problems require the expansion of activities of tax in the country and make sweeping reforms in the administrative dealings of the General Authority for taxes of the Ministry of Finance.

The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Bank Central classifies the tax system in Iraq to a system of late and does not contribute in supporting the action the central bank to support the value of cash transactions and banking in the country."

He added that "the Ministry of Finance have to do to expand the procedures of tax and raise the level of value while reducing the administrative and bureaucratic procedures that contribute to hamper the development of Iraqi economy."

On July 20 last the government announced that it has developed a plan to activate the taxes to address the continuing inflation in the Iraqi economy. The economists tax system in Iraq from regimes of backward and which do not rise to the level of support the economy and tackle inflation in the country.

The Central Bank of Iraq in January 13 last that the value of the tax alleged to balance in 2011 amounted to 2.7 trillion Iraqi dinars. The sector has witnessed a tax in Iraq nearly ceased in recent years because of the turmoil the economic situation in Iraq and tense security situation, in which causing it to limit the tax system on the sector staff, traders and owners of companies.

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