What I’m going to try to do is put a couple of the pieces of the puzzle together for you. And what I mean by that is that there’s been things that have happened in a subsequent manner. So, for instance, there’s 1234 items that have transpired that aren’t exactly for, they’re probably just components like, kind of like a spider web.
But they do kind of get to a focus which at the end of the day is going to be Article 140, for instance, the hydrocarbon law is another around that the 2024 budget is talked about. So those are some of the kind of components that we’re going to talk about. But at least this is going to be very interesting that we know that the deputy director of the prime minister’s office, his name is Ali Razuki.
So today we participated in an important celebration to receive the draught of the new income tax law, which is considered one of the outcomes of the tax reform conference held last December, indicating that there is no money collected or grants given in Iraq except by law. And I attribute this to the investment side of the law of the 2024 budget.
And that’s why they bring it up again, because they haven’t been talking about the 2024 budget specifically and especially when it comes to taxation. So this last part, quotation, there is no money collected or grants given in Iraq except by law. This last quotation tells me there was a need for the taxation law to be sorted and I just believe that that’s probably what we’re going to find. If that’s the case, this goes on and adds that the collecting income tax requires a transparent legal cover.
So collecting income tax from all the new non oil revenues, etc, is going to be a very important component of this. It says, collecting income tax requires a transparent legal cover.
This follow up on the decisions of the tax reform and conference, which worked intensively with the international organisations, one of which is the german Giz organisation. They’re big international, out of Germany and they have a huge amount of international experience. So they showed up on the scene probably within the last month.
They could have been there for as long as Ernst and Young’s been there for. But ultimately I believe what we will find is that they wrote the legislation for the country of Iraq to get their tax law into where it’s going to be. I’m assuming that will reflect on Iraq going into the private sector.
It says several meetings were held inside and outside of Iraq, which led to the issuance of an important draught of that income tax law, which appears to be the case. So it says, look, so no money or grants, in my opinion, no money or grants could be issued without it in place. So in other words, at the beginning we talked about that no money collected grants given except by law. So no money gets granted or issued without a law in place. So if they’re going to do grants, they’re going to have money for to put that money out. The investment law is where I believe they’re talking about.
So it’s not correct for the country’s budget to depend on oil and its fluctuating price and thus the economy system will be shaken. I guess explaining that ensuring a stable resource through an accurate and transparent and fair tax system is a fundamental building block in building a solid independent economic system for the country. So if you think about these new systems, these new blockchain systems, they have what? They have all of that.
Anyway, they have the money for investments that come out of that, that account. And that’s allowable for certain types of things just like it always has been, because it’s in the legal limits of using oil money, Not just Dinar but oil money. But that’s in dollars.
They’re not only talking about the taxation in 2024 budget tables related to the spending in both cases, they say that the Article 140 is effectively no oppositions, no obstructions, hence the stop short of flat out telling us that the budget is completed due to its sensitivities. Interesting. so on Thursday, the representative of the Soleimani government, Soran Omar, announced that the five kurdish blocs in the Council of Representatives have agreed to unify their position to support a draught law aimed at cancelling the baath’s party’s decisions related to agricultural lands in the areas covered by Article 140 of the constitution. They go on to stress that there’s no need to obstruct its passage by the Shiite or the sunni blocs.
It says. Omar said in a post on his personal accounts, that in the news outlets that are in the kurdish region, the five kurdish blocs in the House of Representatives, in the presence of the deputy of the parliament, held a meeting with Hadi Amiri, head of the government’s Article 140 implementation committee, to discuss the draught law to cancel that bath party’s decisions related to agricultural lands in Kirkuk and other areas under Article 140, indicating that these decisions have always been an obstacle in restoring rights to their owners. Look, they’re going to be. They’re going to be telling you that they’re going to ensure its passage.
Okay, so we have held six meetings so far with the Shia and sunni blocs in the presence of Moshan al Malant Bandalawi. He’s the acting speaker of the House, which, by the way, everybody should know this, is that he’s fully capable of getting constitutional laws over the edge
The minister of justice who was all there. Yeah, Shaquan Abdullah, the deputy speaker of the Parliament Khalad Shawani, the Ministry of Justice Haidi Alamiri, the head of the Article 140 implementation committee of what are they there for? To ensure that this project passes without opposition from other blocks.
So it goes on to say that an informed source Monday, there’s a group called the we Build Coalition. It says, the head of the supreme committee for the implementation of Article 140 of the Constitution, Haiti, and Marion attended parliament to study the possibility of approving the law, returning property to their owners or not. And the news outlets basically state that the head of the supreme committee for the implementation of Article 140 of the constitution, Haiti, Elmerie, has been present in the House of Representatives at 01:00 p.m.
And they’re going to go on to say that Amiri held a meeting immediately upon his arrival to the council in the constitutional hall. The acting speaker of the council, basically, and the second deck. Second Deputy speaker with the head of the blocks, in the presence of all the members of the parliamentary committee, representatives of Kirk, Hook and govern it.
They’re going to try and get this thing passed.
And they go on to say that they were basically, it says, in order to reach an agreement on whether to pass the law or not, they were. That’s what the meeting was about. But they were gonna say they did this without mentioning any further details.
And you got to say, if they’re going to do article 140 and you can have a hydrocarbon law, you’re going to need to have an exchange rate, an official exchange rate. So anyway, would that be sensitive? Of course it would.
An official statement issued by the House of Representatives, received by the agency today, which was yesterday, Amiri discussed the results of the work of the government committee. And it says, the work of the committee and completed stages of implementing article 140. It doesn’t say they completed all the stages. It says completed stages of implementing article 140 in cooperation with the ministries and relevant authorities.
It says, the Kirk Cook government enjoys a special status of the draught law.
To return properties to their owners. Included in some of these decisions is the dissolved Revolutionary Command council, and its stability requires maintaining cooperation between the three authorities and taking into account the sensitivity of this file by the various political forces. All right. So when you put all that together, in my view, it’s been a massive issue telling us what they are doing.
And the most sensitive bits and pieces to be exposed will have to be, I guess, maybe by Al Sudani and Alalak. When are they going to do that? I don’t know. I know that Al Sudanese has an expectation to be coming to the United States in a few days.
So we’re going to have to watch and see how he does and what he does and when he does it. But I do know that the UN assembly meeting, the whole thing will transpire for about, I think, from the 10 September and on all the way out to the 30th. I understand there’s a debate, a special debate date for the, for the Tuesday. I don’t know if Sudani is going to be there on that day.
But when they talked about the taxation, it should have your eyes peeled because they didn’t have the law, but now they do. Taxation is, they couldn’t give out any grant money, they couldn’t give out investment monies. And then they talked about the 2024 budget.
They talked about that parliamentary aspect of parliament, what is it, 64? And they also talked about sensitivities.
