Court finds against Zain in $187m Tax Ruling

By John Lee.

Reuters reports that an Iraqi appeals court has upheld a ruling that mobile phone operator Zain Iraq must pay a $187-million tax bill related to the acquisition of a rival Iraqna from Egypt’s Orascom Telecom in 2007.

Unusually, says the report, the government tried to levy capital gains tax worth $187 million on Zain Iraq as the asset buyer, rather than on the seller.

Zain said it will appeal the decision.

(Source: Reuters)

One Response to Court finds against Zain in $187m Tax Ruling

  1. Ibn Al Irq April 3, 2016 at 9:28 pm #

    Dear Sirs,

    It’s about time the Iraqi Gov proceeds with serious steps and actions to collect these legitimate taxes against Zain Iraq and their fat profits for long time.

    Zain Iraq and alike have been selfish and greedy!

    The Iraqi justice should dismiss any appeals submitted by Zain Iraq

    Thanks