It required the establishment of a unified database (Private Banking) 3/6
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    It required the establishment of a unified database (Private Banking) 3/6

    It required the establishment of a unified database (Private Banking)

    3/7/2016 0:00

    BAGHDAD - Hussein al-Tamimi Tgb
    Examined the private banks and the General Authority for taxes ways of cooperation and overcome the problems that adversely affect the banking and start a new stage of cooperation achieved economic feasibility effective for the country in light of the financial crisis experienced by Iraq.

    Management Executive Director of the Association of Iraqi private banks Tariq Ali, who pointed out that within this dialogue meeting comes in light of the Government's support to the private sector and facilitate the tax measures.

    Tax obstacles

    He pointed out that the Association statutory body working on the convergence of views between the private and government institutions, the banking sector, the first step is to work to achieve this meeting direct with the General Authority for taxes to determine the tax obstacles that bedevil the workflow, listen to the views of the concerned Authority to put before representatives of the banks.

    Achieve integration

    Navigate to talk to the President of the Association meek and Handal said that the stage through which the country needs to achieve integration in the work by adopting best international accounting standards advocated by the World Bank.

    He pointed out that direct dialogue with the Commission will help us to reach the points the task of understanding, which was introduced a number of outstanding issues with the tax that articulated by representatives of the Commission, it was agreed to meet with a complement another during the coming days to work to overcome all the outstanding issues by adopting legal formulas.

    Unify banks

    He stressed that the unification of the voice of private banks, helping them to extract important decisions serve the building of the Iraqi banking house, which is the backbone of the development process sought by Iraq in all production and service sectors, indicating that presence with private institutions in friendly dialogues directly contributes to the smooth high to implement Business.

    Legal rights

    Director General of the General Authority for taxes successful Abbas Ali talked about the overall problems with the private banking sector, indicating the importance that the parties gets the Legal their rights, and that the body has controls operate under the completion of transactions involving the banking sector, and then listened to the banking sector's problems represented by the allocation of bank branches in hot areas and loans granted by there, as well as the tax disparity between the center and the region and direct deduction, as well as private banks received civil instruments.

    As a party to stop the meeting when accounts Zain where there is a problem between the Commission and the company, and there are accounts in private banks it has been reserved amounts, where he pointed out that the Commission applied to all legal measures in this regard.

    Tax allowances

    She pointed to the issue of tax allowances and change it according to the laws of the general federal budget and every change in the allowed deduction change, pointing out that the difference in the tax deduction between the province and the center more a political issue than an economic.

    It was important that there be coordination at a high level between the banks and the Authority and the Central Bank of Iraq, indicating that the meeting enabled the Commission to listen to the views and problems between the two sides, said work to solve all the problems in the long

    Mutually beneficial

    Returned Handal to say that the mutual interest between banks and taxes, and in the interest of both parties to adopt international accounting standards, a proposal to hold meetings quarterly between the two parties to help overcome the problems, has also been put forward the idea of ​​creating a unified database between central and taxation and its role in overcoming many obstacles between the parties to the process.

    Last edited by Loopback; 03-06-2016 at 09:13 PM.

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