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https://baghdad-times.net/2022/04/10/الصناعة-والمعادن-تعلن-انجازاتها-خلال/
Industry and Minerals announces its achievements within a year
2 hours ago 10
Baghdad Times-
Today, Sunday, the Ministry of Industry and Minerals announced a mechanism for exempting factories from customs duties, while noting that
more than 250 factories have been completed within one year.
Director General of Industrial Development Aziz Nazim said, in a statement to the official news agency, that "within Law No. 20 of 1998, there are customs facilities and exemptions for a period of 10 years for machinery, equipment and raw materials according to production," noting that
"the exemptions will help to complete projects with strength and solidity from order to stabilize production.
He explained, "Industrial projects, whether medium or large, when they are exempt from customs and tax duties, will achieve several advantages, including
direct employment and reducing unemployment, in addition to achieving a
production tax and
income tax, and
thus a resource for the state will be achieved on the one hand, and the employment of workers on the other."
He added, "Exemptions are made according to the nature of the industrial project and its production materials, so the raw materials that enter into the food or construction industry are covered by the exemptions," noting that
"the exchange rate change, the trend has become towards the food industries and the opening of several factories in this regard."
Nazim affirmed, "During the past year, it was decided to establish 1853 factories, of which 253 were completed, with a production development rate of about 25 percent."
He noted that "several decisions were issued in light of the increase in prices in global markets, including Resolution 65, which organized the process of delivering raw materials to factories, which led to their non-exemption and sale in the market, as well as Resolution 73, which explained exemptions for construction and basic materials, the last of which was the complete exemption of materials.".
Industry and Minerals announces its achievements within a year
2 hours ago 10
Baghdad Times-
Today, Sunday, the Ministry of Industry and Minerals announced a mechanism for exempting factories from customs duties, while noting that
more than 250 factories have been completed within one year.
Director General of Industrial Development Aziz Nazim said, in a statement to the official news agency, that "within Law No. 20 of 1998, there are customs facilities and exemptions for a period of 10 years for machinery, equipment and raw materials according to production," noting that
"the exemptions will help to complete projects with strength and solidity from order to stabilize production.
He explained, "Industrial projects, whether medium or large, when they are exempt from customs and tax duties, will achieve several advantages, including
direct employment and reducing unemployment, in addition to achieving a
production tax and
income tax, and
thus a resource for the state will be achieved on the one hand, and the employment of workers on the other."
He added, "Exemptions are made according to the nature of the industrial project and its production materials, so the raw materials that enter into the food or construction industry are covered by the exemptions," noting that
"the exchange rate change, the trend has become towards the food industries and the opening of several factories in this regard."
Nazim affirmed, "During the past year, it was decided to establish 1853 factories, of which 253 were completed, with a production development rate of about 25 percent."
He noted that "several decisions were issued in light of the increase in prices in global markets, including Resolution 65, which organized the process of delivering raw materials to factories, which led to their non-exemption and sale in the market, as well as Resolution 73, which explained exemptions for construction and basic materials, the last of which was the complete exemption of materials.".
