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 as well as future investors, a fact that was arguably a cause of failure in the third and fourth bidding rounds.

Based on experience, research studies and discussion with various stakeholders, the paper concludes with a set of recommendations to improve the tax landscape in Iraq.

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