Association of Banks: Iraqi’s renew fears of statement of accounts for customers
BAGHDAD / JD / .. renewed association of private banks in Iraq claim the GCT to reconsider a proposal to provide private banks with information on the accounts of customers of private banks in order to impose a tax on capital.
An official source in the Association / JD /: “This procedure leads to confuse the work of private banks and lose the citizen confidence in the bank sector, and goes the money into homes rather than investing in various projects through private banks.
He pointed out that this action is contrary to Article 49 of the Banking Act which include reservation data on the customer financial and are not touched her deviation direct or directly only by the beneficiary customer.
He added that this procedure leads to confuse the reality of private banks after they finished their final accounts and distributed annual profits.
The General Commission for Taxes issued a decision involving the proceeds of couriers Treasury purchased by banks, tax and retroactively to five years ago.