The Central Bank of Iraq launches the electronic tax project for the Housing Fund

On Saturday, the Central Bank of Iraq launched the electronic tax project for the Housing Fund, to enable the fund to complete all lending operations. 

"The project will enable government resources to be strengthened and collected in a safe and transparent environment, by relying on the infrastructure of payment systems and electronic payment platforms provided by the Central Bank and its authorized payment service providers," the bank said, in a statement reported by the Iraqi Alsumaria News website. 

He added that "the project generally targets ministries and tax departments, whose revenues will be collected through bills and fees, on top of which is the Iraqi Housing Fund." 

The bank stated that the project will enable the Housing Fund to complete all lending operations, adopt electronic payment tools, and cancel cash transactions, which in turn will help relieve the burden of citizens who borrow by accelerating the completion of transactions and using payment platforms instead of attending the headquarters of the Housing Fund.

He pointed out that the fund’s plan included a timetable to include all its branches in the governorates with the electronic tax project until the end of next year.

The Iraqi government is suffering from a decline in the monthly revenues of Iraq to about 4 billion dollars this year, which is half of what it was in 2019, due to the collapse of global oil prices and the outbreak of the Corona pandemic. 
The Iraqi government needs $ 3.5 billion a month just to pay salaries and debts.

And the size of Iraq's foreign debt, according to the figures registered with the Ministry of Finance, jumped to the level of $ 160 billion. A member of the Finance Committee, Abdul Hadi Mohan Al-Saadawi, said, in previous statements to Al-Ain News, that "the external debts owed by Iraq and established within (Paris Club, Kuwait's debts and the Iraq-Iran war) amounted to more than 136 billion dollars."

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