Tag Archives | taxation

Iraq’s Evolving Tax Landscape

By Imtiaz Ahmad. Over the last seven to eight years, Iraq remained very attractive for international investment especially in the oil and gas sector. Almost all major international oil companies (IOCs) invested, either individually or in partnership with others. By contrast, Iraq showed slow progress in setting out proper petroleum and tax policy for existing […]

Capital Gain Tax on IOCs in Iraq

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many countries impose capital gain tax on individuals, companies and corporations when a profit realized from the sale of assets. National and state legislation often has a large array of fiscal obligations […]

Stock Exchange Boss Calls for Tax Breaks

By John Lee. The Chairman of the Board of Governors of the Iraqi Stock Exchange has reportedly called for a five-year tax holiday for companies listing on the Iraqi bourse, to encourage companies to float their shares. Laith al-Tamimi also called for the Registrar of Companies at the Ministry of Trade to expedite the incorporation […]

Customs Duty Remains at 5%

Customs duty increases have been postponed by the Iraqi Finance Ministry due to the high cost of goods, according to Aknews. Duty was due to go up from 5% on all goods – a rate said to have been set low to encourage trade with Iraq – to as much as 30%. To put that […]

Central Bank: Educate Public on Paying Taxes

The Central Bank of Iraq (CBI) stated on Thursday that the assumed value of taxs in the 2011 budget is amounted to 2.7 trillion Iraqi dinars, that is 3% of the state budget. Muzher Mouhammed Saleh, the adviser of the ICB, told AKnews that the tax file is semi-disabled in Iraq due to the poor […]