Zora's parliamentary economy: formulations inaccurate postponed amendment to the investment law next week

October 19, 2015 21:54

Author: alzawraapaper

Zora / Yousef Salman:
House of Representatives ended its usual yesterday to vote on the draft law amending the Income Tax Law No. (113) for the year 1982 and one after the completion of the second reading of two bills, before deciding the presidency of parliament postponed voting on the draft second amendment bill to the Investment Law No. 13 of 2006 to week session next. According to the economic and investment commission in Parliament, the reasons to postpone the vote on the amendment of the Investment Law has nothing to do with political differences after it was scheduled to vote on Tuesday.

Deputy Chairman of the Committee Harith al-Harthy for "Zora" "The presence of formulations inaccurate details of sentences and in some points of law behind the postponement of the vote on the amendment of the Investment Law." He noted that "the other reason is the lack of the original text of the draft law with the new text prepared for the vote." And between Harthy that "the law has been brought back to the committees of Economy and Finance in order to agree on the formulation of Alachtlavih points and display it again at a meeting next week."

But the other member of the committee Knight Knight said the House of Representatives to raise investment law of the voting session of the different political blocs and parliamentary committees on some of the paragraphs.

He said for "Zora" that "the most important paragraphs that have been challenged by a number of committees are members of the Presidency of the Investment Authority and are members of 9 or 11 members."

Knight said that "there is a moot point objected to by coalition forces and the Kurdistan Alliance, one of the blocks right the first investor of the project if it was outside the city that the project itself refers to another investor."

He added that "unlike the last mentioned in the draft law that the right to buy the land on which the investor will be investing after 50 years of investment for a nominal fee."

He said the "Investment Law is still in the House of Representatives in order to discuss and resolve some of the sticking points in order to give legal form to the investor and investment in Iraq Pmaaoizi what the country is going through today's economic and financial problems."

"The new law will add privileges to the investor grants loans paid on the proportions of achievement in the project which means that the phases of the project will be accessible and parallel with the amount of the project, in return, there will be control and emphasis on the need to bring capital to Iraq from abroad to offset projects and strengthen them with no guarantees it."

He ruled out a member of the Parliamentary Commission of Economy possibility of voting on the amendment of the Investment Law during the next week because of continued disagreement between the Finance Committees and the economy Alniabaten on the wording of some paragraphs. In turn, said a member of the parliamentary legal committee Amin Bakr that the vote on the draft law amending the Income Tax Law No. (113) for the year 1982 aims to ease the tax burden on citizens due to inflation in the property insurance rates and encourage different kinds of line with economic development. "

He told "Zora" that "a progressive tax will be charged a percentage of the value of the property to be exempt current giveaway between assets and branches, siblings or transactions between the spouses from the tax imposed under the provisions of this law."

"The life insurance premiums will be no more than a year on the amount of five million dinars and the amount of three million dinars for other insurance premiums that have nothing to do with the sources of income paid during the year to be with the Iraqi insurance insurance company."

He said the "law exempts from tax 50 million of the estimated value of the property or suit that amount to be distributed to companies according to their shares if the property is owned in common." He noted that "the tax rate on the value of the property will be progressive, starting from 3% - 6%."