The Kurdistan Regional Government (KRG) and the federal government agreed Tuesday on the mechanism of working banks and banks operating in the region and on the unification of taxes and obtaining them once.
“We have reached an agreement and signed it, and it is in the interest of both sides,” the minister of finance and economy of the Kurdistan Regional Government, Reppaz Halaman, told a joint news conference with the central bank governor Ali al-Alak.
He explained that the first phase of the agreement provides for reducing the number of these commercial banks of the Kurdistan Regional Government, and the second phase to obtain all banks and banks in the region to leave work practice of the Central Bank of Iraq in Baghdad and be dealt with officially, both inside Iraq or outside.
“We talked during the meeting on the issue of customs and during the next week will be an expanded meeting to regulate the work of customs tariffs between the two sides,” adding that “there is only one point remaining companies operating in the Kurdistan Region, which has tax problems will be solved with the problem of the beginning The month of June this year. ”
“The bilateral meetings between the two sides have been very positive,” he said, adding that the central bank has completed all preparations for distributing it by depositing the necessary funds in its branch in Erbil.