By John Lee. Reuters reports that Zain Iraq is to pay $94 million to settle a tax case related to the 2007 acquisition of rival operator Iraqna from Egypt's Orascom Telecom. Iraq's General Commission of Taxes (GCT) claimed Zain Iraq owed $187 million in capital gains tax due on its $1.2 billion purchase of the […]
Tag Archives | Capital Gain Tax
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 […]