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Iraqi ministers include companies "industry" for the decision to postpone the collection of customs

rocky
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Post by rocky on Wed 07 Mar 2018, 5:37 am

Iraqi ministers include companies "industry" for the decision to postpone the collection of customs duties
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Mohamed Shi'a al-Sudani Acting Minister of Industry and Minerals 07 March 2018 01:58 PM
Direct : The Iraqi government agreed to include production companies affiliated to the Ministry of Industry and Minerals decision to postpone the collection of customs duties for raw materials or imported components, provided they achieve an added value of not less than 25%.
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The Ministry of Industry said in a statement on Wednesday that the inclusion of these companies in the decision of the ministers would encourage them to implement their contractual obligations and meet the local needs of national products, which reach more than 270 domestic products and 360 pharmaceutical preparations.
The ministry pointed out that the decision stimulates the companies covered to double their capacity and raise the efficiency of their production performance and financial indicators.
It is noteworthy that the Iraqi Council of Ministers Decision No. 23 of 2018, taking into account several conditions for postponement of completion, most notably the letter to the General Authority of Customs, signed by the Minister or the Undersecretary of the Ministry .
It is noteworthy that the Iraqi Council of Ministers was previously allowed to postpone the collection of customs duties for imported goods in the name of ministries and entities not associated with the Ministry, and to calculate and uses for all contracts concluded in 2017 .
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Proven
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Post by Proven on Wed 07 Mar 2018, 6:13 am

Thanks Rocky.


I am trying to understand this arabish.


Here is an insightful quote:


The Ministry of Industry said in a statement on Wednesday that the inclusion of these companies in the decision of the ministers would encourage them to implement their contractual obligations and meet the local needs of national products, which reach more than 270 domestic products and 360 pharmaceutical preparations.


In the context of the article, I take this to mean that the Iraq minister exempted these companies from the tariffs on raw material in order to stimulate local production.


Ward, do you see this any other way? Anyone? 
ron-man
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Post by ron-man on Wed 07 Mar 2018, 8:56 am

Looks like that to me.
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customs - Iraqi ministers include companies "industry" for the decision to postpone the collection of customs  Empty Re: Iraqi ministers include companies "industry" for the decision to postpone the collection of customs

Post by Lobo on Wed 07 Mar 2018, 11:54 am

I agree Proven.

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