Posts Tagged ‘Revenue’

11/29/2013 12:03

warned the parliamentary Economic Committee, the survival of the Iraqi economy is dependent on oil as a major source of the state, calling for a diversification of state revenues to avoid the financial problems of the country’s economic potential. (more…)

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Financial: distribution of oil revenues to citizens would increase inflation in the country

20-11-2013 10:36 AM
Baghdad (newsletter). The parliamentary Finance Committee warned of the proposed allocation of oil revenues to citizens, it would increase inflation in the country would affect the federal budget. (more…)

26 Aug 2013
Iraq’s Tax Authority has warned against what it described as total reliance on oil export revenues.

“The country depends wholly on royalties from oil exports. The catastrophe for the economy is inevitable once oil wells start aging,” said the authority’s director-general Kadhem Abdullah.

Abdullah said the country lacked “a clear strategy” on how to diversify its income. The constitution, he added, calls for the creation of a market economy, but regulations and rules managing the economy are the opposite. (more…)

Baghdad, June 13 (Rn) – The Iraqi Ministry of Planning Tuesday it is nearing completion of the finalization of the basic instructions for the distribution of share of oil by 25% on the population by the end of this year, according to what passed the House of Representatives. (more…)

Controls for the distribution of oil revenues among citizens

19/05/2012 0:00

revealed the Ministry of Planning and Development Cooperation for the formation of a tripartite committee that would develop guidelines and mechanisms for the distribution ratio of 25 percent of the abundance of Finance of oil revenues among citizens, according to the law of the Federal budget for the current year. (more…)

Announced that the Finance Committee in the Iraqi Council of Representatives that the budget of 2012 will open new doors of revenue in addition to oil. A member of the Committee MP for a coalition of state law Haitham Jubouri was formed a special committee to draw economic policy to balance the 2012, pointing to the existence of four members of the the Finance Committee were present at this Committee to discuss the budget next year.

Indicating that the Finance Committee is seeking to open up new revenue for budget support in addition to oil, pointing out that these doors are activating the work of Customs and add their revenues to the budget, as well as tax and customs tariff.

The committee called for Council of Ministers to the need to accelerate the application of the law of the latter due to enter the new revenue for Iraq, and the increase will increase the percentage of the budget investment.

(more…)