Deloitte Middle East (DME) has launched a guide to doing businesss in Iraq.
The “Doing business guide – Understanding Iraq’s tax position” addresses the key tax considerations for doing business in Iraq, alongside key economic, industry and market drivers which impact starting up a business there.
The complexity of tax compliance in Iraq has grown in recent years; and as Iraq is mainly dependent on oil for revenues, the drop in oil prices is having a significant effect on the investment market in Iraq.
The report discusses the following topics:
- The macro-environmental perspective of Iraq
- Key industries and economic drivers
- Indicators and procedures for starting a business in Iraq
- ‘Trading with’ versus ‘trading in’ Iraq
- Taxation in Iraq (including administration, taxable income, withholding tax, employment tax, corporate and indirect taxes)