Economical calling for a tax on central bank sales transferred abroad
17:51-04 September 17
Last Updated 18:00-04 September 17
The Economist, Hussein al-Hinin, called on the Iraqi government Monday to levy a tax on sales of the central bank, which has been transferred abroad to salvage the country's monetary policy.
"The expectation is that cash reserves from the hard currency can reach below the $36 billion that is less than the cash cover designed for the Iraqi dinar cash mass", pointing out that
"debt has reached alarming numbers."
"The Iraqi government is now obliged to put VAT on money that is diverted in hard currency abroad in order to maintain a delicate economic balance in the country," he said.
"The money that can be levied from the value-added tax on central bank sales abroad is estimated at $10 billion a year," he said.