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Iraqi investment sector exempt from duty
27/03/2012 12:26
BAGHDAD, March 27 (AKnews) - Investment companies will be exempted from paying duties on good entering Iraq under the new customs law, the federal government announced.
After being postponed twice, Finance Minister Rafie al-Issawi said last week that the new bill will be adopted on June 1, 2012.
Abdul-Abbas al-Saedi, a member of the Iraqi government Economy and Energy Commission told AKnews the Investment Law No. 13 of 2006, which excludes investors in Iraq from paying taxes and customs duties, will be included in the law.
This does not conflict with the law of investment and will contribute in attracting the investors, he added.
"The customs rate will differ between goods, where it will be higher for complementary goods and cars. There will be other ratios for food and construction materials," said Saedi.
The new customs law, approved by the Presidency Council of Iraq last year and passed by the Council of Representatives, will cancel:
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27/03/2012 12:26
BAGHDAD, March 27 (AKnews) - Investment companies will be exempted from paying duties on good entering Iraq under the new customs law, the federal government announced.
After being postponed twice, Finance Minister Rafie al-Issawi said last week that the new bill will be adopted on June 1, 2012.
Abdul-Abbas al-Saedi, a member of the Iraqi government Economy and Energy Commission told AKnews the Investment Law No. 13 of 2006, which excludes investors in Iraq from paying taxes and customs duties, will be included in the law.
This does not conflict with the law of investment and will contribute in attracting the investors, he added.
"The customs rate will differ between goods, where it will be higher for complementary goods and cars. There will be other ratios for food and construction materials," said Saedi.
The new customs law, approved by the Presidency Council of Iraq last year and passed by the Council of Representatives, will cancel:
[You must be registered and logged in to see this link.]
