Post From Dinar Updates
Chat Room Excerpts & Highlights
RCookie & Mr White News Time 7-25-16 Part 1 of 2
Hutch says():HI MR WHITE AND RCOOKIE, I HAVE AN ARTICLE TO BRING IN AND WOULD LIKE FOR YOU GUYS TO COMMENT FOR US ALL PLEASE. READY ?
rcookie says):LETS ROLL...
Hutch says():Directing Customs
Author: Yasser incumbent 7/24/2016 0:00 Cabinet embarked on important economic reforms , it is the first of its activity where he addressed the administrative reform for some of a financial nature institutions as an indicator of the direct intention of institutional building sober , which is the backbone of economic reforms.
Council of Ministers has recently recognized the need to establish joint ventures to bring out the customs to regulate the movement of import chaotic and exports , which will also contribute to reform trade policy in the country and is one of reform that leads to the institution - building requirements , as I said.
Hutch says():the resolution »to limit the import and export of materials and cargo operations as well as the movement of funds in foreign currency companies collectively registered in the Registrar of companies Department of Mnhaaajazat import as well as the establishment of joint ventures shall import operations and export.
The aim of this decision to regulate the import and export and output customs random operations and restrict legal institutions directly responsible in front of tax departments and departments regulators.
In addition to targeted institutional organization , it would limit the tax evasion operations will be subject to the tax charge for the fact that records companies reveal in front of the tax authorities, as well as regulators are any corporate solidarity does not assume future tax irregularities from the legal responsibility of being officially registered and licensed.
Hutch says):Among the benefits of this decision he came to contribute to maximizing the financial resources and diversifying to support the general budget and you can imagine the size of revenues compared Aharkhalastiardih size in the country in addition to the possibility determined according to actual needs and reduce indiscriminate import , who will face legal obstacle will also contribute to the reduction of the demand for foreign currency.
Eight this decision will resolve the problem for as long as the state and operated devices relating to the judiciary and of falsifying documents and inventory credits and who was responsible for when they occur which companies to be subject to periodic monitoring and annual Atzar which of those records violation.
Hutch says():It is noteworthy that the resolution gave for 4 months of the founding of companies allowing Maaqbin and customs brokers the opportunity to heal and the establishment of joint - stock companies with each other , and that the decision will not be penalized any person and prevents him from exercising import and export process provided that through joint venture and not individual people.
We find this decision a careful approach to start reforms , administrative, economic, and adequate opportunity to establish these companies and this is the first Ghaith reforms will come successively.
Hutch says():PAGE BURNER !
Hutch says():RCOOKIE AND MR WHITE, WOULD YOU GUYS BREAK THIS DOWN AND COMMENT PLEASE ?
rcookie says():THEY ARE STATING THAT THE BACKBONE TO ECONOMIC REFORM IS INSTITUTION BUILDING...
wmawhite says():In addition................This appears to be huge steps at ensuring that all entities....whether government or private sector are registered and paying their fair taxes.
wmawhite says():They see the flood gates opening and are ensuring that they are prepared administratively.
rcookie says):LIMITING IMPORT AND EXPORT MATERIALS AND CARGO OPERATIONS...AS WELL AS THE MOVEMENT OF FUNDS IN FOREIGN CURRENCY COMPANIES COLLECTIVELT REGISTERED IN REGISTRAR OF COMPANIES DEPARTMENT AS WELL AS ESTABLISHMENT OF JOINT VENTURES IMPORT/EXPORT OPERATIONS...
rcookie says):THE GOAL OF THE DECISION TO REGULATE IMPORT/EXPORT AND RANDOM CUSTOMS OPERATIONS AND REGULATE IN FRONT OF TAX DEPARTMENT & TAX REGULATORS ALLOWING FOR TAX EVASION AND PROVIDE HAVEN TOWARD COLLECTION OF REQUISITE TAX LIABILITIES NON OFFICIALLY REGISTERED AND LICENSED ENTITIES....
rcookie says():JUST ONE OF THE BENEFITS OF THIS PROCESS OBVIOUSLY TO MAXIMIZING DENERAL BUDGET REVENUES THAT WILL ONLY INCREASE EVEN FURTHER WITH THE CONTINUED REDUCTION OF IMPORTS WHICH LEADS DIRECTLY TO THE REDUCTION OF DEMAND FOR FOREIGN CURRENCY....
wmawhite says():In other words.......if the flood gates of investors were not opening ..why worry about such issues?
rcookie says to wmawhite():GREAT POINT....AND TOTALLY AGREE...
Hutch says to wmawhite():AGREED
rcookie says to wmawhite():HE NOTES THAT THE SUCCESS OF THIS DEPENDS ON PROPER EXECUTION OF MONITORIN AND VETTING ACTIVITIES TO ENSURE ELIMINATION OF FALSIFIED ACTORS AND DOCUMENT VIOLATIONS....
rcookie says to wmawhite():HE NOTES THE RESOLUTION ALLOWED FOR 4 MONTH GRACE PERIOD WHERE CUSTOMS BROKERS TO HEAL AND ESTABLISH JOPINT STOCK COMPANIES WITH EACH OTHER NOT RECEIVING PENALTIES FOR IMPORT/EXPORT ACTIONS CONDUCTED BETWEEN THESE JOINT VENTURE COMPANIES AND NOT INDIVIDUAL PERSONS...
wmawhite says():FALSIFIED ACTORS AND DOCUMENT VIOLATIONS....
this is where they ripped off in the auctions
rcookie says to wmawhite():EXACTLY...AND THAT THE CBI JUST WARNED THE CITIZENRY ABOUT YESTERDAY!!!
rcookie says to wmawhite():AND CONCLUDES THAT THIS IS A CAREFUL AND CONSERVARIVE WAY TO BEGIN THE ADMINISTRATIVE AND ECONOMIC REFORMS WITH THE FOUNDATION OF THESE COMPANIES WITH THE OTHER REFORMS TO FOLLOW SUCCESSIVELY...
rcookie says to wmawhite():AND WE HAVE NEWS TODAY FROM DEPT OF REGISTRARS ABOUT JUNE NUMBERS FOR REGISTERED DOMESTIC & FOREIGN COMPANIES INCLUDING JOINT VENTURE COMPANIES.....
Hutch says():ALL EXCELLENT POINTS ! ANY QUESTIONS OR COMMENTS?
david334 says():New business formation numbers?
rcookie says to wmawhite():TIES IN AGAIN THE MINIMIZING OF IMPORTS REDUCING DEMAND FOR FOREIGN CURRENCY...
coco1 says():I find that completion of a four month grace period interesting.
rcookie says to coco1():GIVING THEM A CHANCE TO GET THEIR HOUSE IN ORDER...
rcookie says to coco1():AND MERGE FOR THE FORMATION OF JOINT STOCK COMPANIES...
rcookie says to coco1():PRIVATE SECTOR OVERDRIVE...
Dinarian1 says():you just answered it! Good job!
rcookie says to coco1():HEY THATS A NEW GROUP...
Hutch says to Dinarian1():LIKE KARNACK ON THE CARSON SHOW !4
coco1 says():I like that name!
Hutch says to Dinarian1()::D
rcookie says to Hutch():WE GOTTA GET YOU THE HAT...
Hutch says():PERFECT, YOU KNOW I'LL WEAR IT !
Hutch says():ALL GREAT QUESTIONS AND COMMENTS !
Hutch says():ANY OTHER QUESTIONS OR COMMENTS ?
Hutch says():OK, RCOOKIE AND MR WHITE.... I HAVE ANOTHER FOR YOU.... HOLD ON.
rcookie says():THESE PRE CALL REPORTS ...I PROMISE YOU'RE NOT SEEING ANYWHERE ELSE
Hutch says():Reform plans awaiting allocations and mechanisms of action
7/24/2016 0:00 BAGHDAD Shokran Fatlawi said economic consultant Baghdad forum Samir Abbas Alnasiri to put in place mechanisms implementation strategy of the Central Bank of Iraq for the years 2016-2020 aimed at reform and private sector development requires identifying ways and procedures and the allocation of the necessary funds for their implementation, on the parallels that initiate the private sector to reform himself and the organization of the joints done in accordance with the best technologies that the world is witnessing.
Hutch says():He suggested Alnasiri «morning» in order to achieve the strategic objectives of the reform need to allocate the amount of the IMF loan is distributed according to the grant provided by the Bank to the government each time for a period of three years ,
which accompanied customization distribution to finance industrial and agricultural sectors and housing according to the mechanisms Awaltalimat approved by the Council of Ministers in partnership with private sector representatives.
creation of an independent body and pointed out the importance of creating an independent body for the private sector, undertake the implementation of the government 's plans designed to support and stimulate the private sector in coordination with its representatives,
pointing to the need to form a unified council to the private sector represents all unions and organizations forums and meetings and sectoral public holds these parties elected under the supervision of the legislative, executive and judicial power , as well as subjecting distribution and exchange and finance operations for monitoring and follow - up, audit and evaluation based on audit firms of international.
Hutch says():General Federation of cooperation and noted Alnasiri to the necessity of activating the General Federation of cooperation by stimulating and encouraging housing co - operative societies and the establishment of Baghdad Municipality and local governments in the provinces to allocate residential land,
sorting and preparing designs for the construction of cities and residential complexes in coordination with investment and private sector circles that the keys are delivered the citizen and the subject of distribution operations for Oatia income and slum inhabitants and benefit from a loan the World Bank fund in this sector on the exchange transactions are subject to review and monitoring and auditing.
Hutch says():Alnasiri said that the government through the Ministry of Agriculture and water resources inventory of arable land in all the provinces,
including the provinces of Kurdistan and ask local governments to secure the requirements of supplies cultivate these lands and invest directly activates all graduates of agricultural colleges and institutes, through a contract with them or with the private sector to be cultivated and invested and marketing of agricultural production
and the division of the income earned between the workers and the local government and thus achieved two goals the first economist ,
a switch to a productive economy and the second is social and is young graduates run and transferred to the producers. launch the electronic form the Council of Ministers issued during the past few days a decision launch of the electronic form for the promotion and facilitation of government measures financing small and medium enterprises and to encourage the production process in agriculture, industry, housing, support and stimulate the private sector.
He added that the provision of the central bank's six trillion five hundred billion dinars amount of investment is designed to achieve the government 's plan to restructure Iraq 's economy and moving it from rentier economy to a productive economy and give the private sector a key role in achieving this.
Hutch says():the central bank has launched Strutijeth for the years 2016-2020 in conjunction with calls for comprehensive change of the Council of Ministers and the House of Representatives,
which has identified and painted the road of reform and in accordance with the objectives of the main and foremost to support and achieve financial stability,
activating the role of financial institutions and the banking sector, the development of the organizational structure and the organizational structure, human capital and activation and integration of the development of the internal relations and external.