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Budget of 2019: $ 56 rate of oil price of the barrel and raise the proportion of real estate tax

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Budget of 2019: $ 56 rate of oil price of the barrel and raise the proportion of real estate tax

Post by RamblerNash on Thu Oct 11, 2018 9:37 am

Budget of 2019: $ 56 rate of oil price of the barrel and raise the proportion of real estate tax

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Economy News Baghdad

The draft budget bill for Iraq for the next year 2019 revealed that the estimated revenues were calculated from the export of crude oil on the basis of the rate of 56 dollars per barrel and an export rate of 3 million and 880 thousand barrels per day, including 250 thousand barrels per day of the quantities of crude oil produced in the provinces of Kurdistan on the basis of spending 1182 dinars per dollar.

The draft said that "the total deficit planned for the federal budget for fiscal year 2019 amounted to 22 trillion and 873 billion and 365 million and 557 thousand dinars," indicating that "the deficit will be covered by the deficit of the abundance of the increase in prices of crude oil source or increase exports of crude oil.

"The Kurdistan region's share of the total actual spending according to the souls of each province after the exclusion of sovereign expenditures," said the draft that "the failure of the Kurdistan region to pay the federal revenues received to the federal public treasury will be deducted the quota set for them and the reconciliation is carried out later."

The draft banning the recruitment of all state departments in the manner of contracting with the possibility of renewal of previous contracts in the case of necessity and calculated the duration of the contract to install permanent owners of the actual service and stop appointments in the three presidencies (the House of Representatives and the Presidency of the Republic and the Council of Ministers and its affiliates).

"The amendment of the tax rate of the real estate tax law No. 162 of 1959, amended under section 6 of CPA Order No. 49 of 2004, from 10% to 12% of the annual revenues of real estate properties."


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