Finance Ministry decides to stop tax salary retroactively
Preparing a plan for developing the retirement law
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10 March 2008 (Iraq Directory)
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The Ministry of Finance suspended work by the pension tax assessed on the salaries of staff, of ongoing service, retroactively to support their salaries. The ministry is also seeking to open banks in many countries of the world to provide services to the Iraqis living there.
Mohammed Al-Hariri, the Office Director of the Minister of Finance said that the retirement law approved by Parliament, and about to be implemented soon, is the first step towards improving the living conditions of the retirees segment and will be followed by other constitutional steps to redress them more, noting that the increase in the salaries of this segment does not meet their needs if compared to the high prices of foodstuffs, oil derivatives and others. He added that a new salary grading, which includes new staff, does not meet their financial needs; therefore, the ministry adopted a method to increase their allocations and stop the pension tax that was deducted from them retroactively from 2008/1/1 to upgrade their living and support their salaries with additional amounts.
The Ministry has prepared a plan for the economic and financial opening and cooperation with all nations of the world through the twinning of banks and financial exchanges; the ministry is seeking to open a number of banks in most countries of the world, to provide services to Iraqis, except in those suffering from economic and financial problems, according to the resolutions of the United Nations because Iraq is keen to implement these decisions.
The Office Director of the Minister of Finance revealed that there is a trend in some provinces to convert palaces belonging to the former regime into tourist places and museums; a committee was already formed to update coordination with the Ministry of Tourism and Antiquities, governors and the Ministry of Finance, noting that there are palaces in some governorates still exploited by multinational forces. As for the property owned by the State and have been exploited by some political parties and figures, Al-Hariri reported that there is a specialized body that has began to address these abuses, and has already succeeded in raising some of them and it is working to treat what is left of them.
He said that properties of the tyrant Saddam and his family had been confiscated in accordance with the law and was supposed to be sold at auction but this was delayed until counting them completely. He explained that the ministry is also pursuing the money of Saddam and his family in international banks because such funds belong to the Iraqi people; it has succeeded in collecting part of the assessments and the latest amount was $3 million deposited in a German bank.
Al-Hariri disclosed that Iraq will participate on March (11) in the OPEC Fund meetings in Vienna to contribute to the support of projects to be set up in poor countries, especially that Iraq is a leading member in this Fund.
AI
