Home
Act to impose income tax on foreign oil companies contracting for work in Iraq (19) for the year 2010
In
• Economy
• Federal
Type of law:
Law
Release Date:
2010 Feb 15
Date of publication:
2010 Mar 15
Case:
Effective
Salvation:
---------------
Name of the people
The Presidency Council
Resolution No. 13
Based on what passed the House of Representatives in accordance with the provisions of subsection (I) of Article (61) and the provisions of paragraph (a) of item V of article (138) of the Constitution.
The Presidency Council decided in its meeting held on 15/2/2010 issued the following law:
No. (19) for the year 2010
Act to impose income tax on foreign oil companies
Contracting for work in Iraq
Article 1 - impose income tax rate (35%) thirty-five percent on income earned in Iraq on contracts with foreign oil companies contracting for work in Iraq or its branches or offices and subcontractors with it in the production and extraction of oil and gas and related industries.
Article 2 - The provisions of the Income Tax Law No. (113) of 1982 as amended in each unless otherwise provided in this law.
Article 3 - The Minister of Finance in coordination with the oil minister instructed to identify the contracts covered by the provisions of this law and facilitate the implementation of its provisions.
Article 4 - This law shall be the date of publication in the Official Gazette.
Tareq al-Hashemi Adel Abdul Mahdi Jalal Talabani
Vice President of the Republic Vice President of the Republic President
Reasons
For the purpose of supporting the national economy and the subordination of income earned in Iraq for foreign oil companies and subcontractors in the production and extraction of oil and gas income tax, initiated this law.
[You must be registered and logged in to see this link.]
In
• Economy
• Federal
Type of law:
Law
Release Date:
2010 Feb 15
Date of publication:
2010 Mar 15
Case:
Effective
Salvation:
---------------
Name of the people
The Presidency Council
Resolution No. 13
Based on what passed the House of Representatives in accordance with the provisions of subsection (I) of Article (61) and the provisions of paragraph (a) of item V of article (138) of the Constitution.
The Presidency Council decided in its meeting held on 15/2/2010 issued the following law:
No. (19) for the year 2010
Act to impose income tax on foreign oil companies
Contracting for work in Iraq
Article 1 - impose income tax rate (35%) thirty-five percent on income earned in Iraq on contracts with foreign oil companies contracting for work in Iraq or its branches or offices and subcontractors with it in the production and extraction of oil and gas and related industries.
Article 2 - The provisions of the Income Tax Law No. (113) of 1982 as amended in each unless otherwise provided in this law.
Article 3 - The Minister of Finance in coordination with the oil minister instructed to identify the contracts covered by the provisions of this law and facilitate the implementation of its provisions.
Article 4 - This law shall be the date of publication in the Official Gazette.
Tareq al-Hashemi Adel Abdul Mahdi Jalal Talabani
Vice President of the Republic Vice President of the Republic President
Reasons
For the purpose of supporting the national economy and the subordination of income earned in Iraq for foreign oil companies and subcontractors in the production and extraction of oil and gas income tax, initiated this law.
[You must be registered and logged in to see this link.]
