Al-Muhammadawi reveals the number of private banks that have evaded taxes for years

by **claud39** Wed May 05, 2021 9:46 am

Al-Muhammadawi reveals the number of private banks that have evaded taxes for years

05/05/2021

Al-Muhammadawi reveals the number of private banks that have evaded taxes for years %D8%AC%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%85%D8%AD%D9%85%D8%AF%D8%A7%D9%88%D9%8A-696x435

The information / Baghdad ..

Member of Parliament, Representative Jamal Al-Muhammadawi, revealed that the total number of private banks that have not been taxed since 2015 amounted to 20% of the total registered banks.

Al-Muhammadawi said, according to a document issued by his office addressed to the Minister of Finance, which he had seen / the information / that “the number of private banks that were not taxed for the year 2015 and previous years (9) banks and this percentage constitutes (20%) of the total banks registered with the Companies Department in The General Tax Authority numbered (44) banks. ”

He added that“ this matter leads to the failure to maximize the financial resources of the state’s public treasury at the present time, and the administrative assessment has not been made despite the presentation of financial data for those banks that achieved a surplus as a result of their activities in contravention of Article 30 of the Income Tax Law. No. 113 of 1982 amended “.

He continued, "The banks are the Iraqi Credit Bank, Economy, Al-Warka, North, Tigris, Euphrates, International Kurdistan, Abu Dhabi Islamic, Standard Chartered and City Bank's representative office."

Al-Muhammadawi confirmed that “the existence of banks that did not submit their financial data to the tax accounting department although the General Tax Authority addressed the Central Bank with the necessity to stop dealing with such banks, but the Central Bank responded that its inclusion as a party to the tasks of other institutions is inconsistent with its law, without taking the necessary measures to urge And the dangers of these banks to impose the submission of financial statements in accordance with Article (27) of the Income Tax Law ”.

He pointed out that “the presence of some notices received by private banks to fulfill a percentage (3%) for the account of tax trusts for the purchase of foreign currency for the benefit of the importer. They do not include adequate details about this taxpayer from whom the trusts received, for example, the full name of the taxpayer, his address, or the address of the bank, all of which contrary to the paragraph. (4) From the instructions of the Ministry of Finance / General Tax Authority.

Al-Muhammadawi called on “the Central Bank of Iraq to clarify its procedures towards these tax violations, given that the bank is the supervisor of the work of banks in Iraq in accordance with Article (40) of the Central Bank Law No. 56 of 2004 amended.”

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https://almaalomah.org/2021/05/05/533171/