Exception of the investment sector duty in Iraq

The committee of economy and investment in the Iraqi parliament on Monday that the new tariff law excluded the investment sector and investment companies from paying fees for the goods entering Iraq, referring to the tax rate will be different between the goods and others.

A member of the Committee Abdul-Abbas Saedi, "told the Kurdish news agency," The Investment Law No. 13 of 2006 excluded the investors in Iraq from the payment of taxes and customs duties, and this exception, according to the new law, passed by the House of Representatives is valid and does not conflict with the law of investment.

Saadi explained that this exemption would attract investors, the fact that goods entering for the benefit of the investment projects would be exempted from tariffs than other goods.

He added that the tariff rate will be different between the goods there are high rates for complementary goods, cars, and there are other ratios per year of food and construction materials.

Number of reading: 18 Tuesday, March 27, 2012