By John Lee.
A new framework requiring importers to pay customs duties and estimated tax deposits in advance is to take effect in Iraq from 1 October 2026, according to a decision by the Council of Ministers.
Under the new rules, importers will be required to deposit foreign transfer amounts for import purposes with authorised banks. Transfers will not be released until the importer has settled the relevant customs duties and estimated tax deposits through the ASYCUDA (Automated System for Customs Data) platform and approved electronic payment mechanisms, with funds transferred to the general treasury accounts and designated accounts at the Ministry of Finance within 15 days.
Customs duties and tax estimates are to be calculated on the basis of preliminary data submitted by the importer, including commercial invoices, shipping documents, customs classification, and information on the type, origin and value of goods, in accordance with approved customs tariff schedules.
(Source: Iraqi Prime Minister's Office)
No comments yet.