Corporate tax exemption in Iraq has been suggested by Member of the Finance Committee

17 Jul 2013

Member of the Finance Committee, Deputy Secretary of the National Alliance, have green signaled the approval of the Act to exempt local and foreign companies from taxes and customs fees to encourage companies to invest in Iraq.
To the local media sources, he opined that exempt law will contribute to attracting foreign companies, adding that the world has been given an opportunity to investors from five to ten years to recover their investment and then pay the taxes.
He added that Iraq needs some serious and free flowing investment in the country in different sectors, not just only in the oil sector. To encourage the corporate organizations, it is sheer important that the nation should opt for a flexibility and more liberal economic plan. He added that his Committee encourages law firms exempted from taxation that the capital need sufficient time and space the State will grant this time.
The cabinet has also decided that some flexible and effective exemption rule for foreign and local companies will be reformed or drafted to encourage different organizations, including foreign and local companies to invest in the country where economy is budding.

Updated 17 Jul 2013 | Soruce: IKH News | By S.Seal