Hkp1- Interacting Investor
- Posts : 3118
Join date : 2012-12-19
by Hkp1 Thu 16 May 2013, 4:10 pm
Iraq Announces investor exemption from taxes and duties16/05/13 12: 09
The
Iraqi Government said it approved the draft exemption of Iraqi and
foreign firms to investment projects from taxes and fees to encourage
investment in the country.
The Iraqi environment is attractive to
investors and employers capitals fear entering the Iraqi market while
providing opportunities as a result of security tensions and poor
service as well as bureaucracy.
And the energy giants to develop
oil fields discovered and other exploration but other sectors did not
attract investors at the same pace.
The Iraqi Government said in a
statement that "the Cabinet approved the draft law on exemption of
Iraqi and foreign firms to investment projects from taxes and duties and
referred it to the House."
The Iraqi investment law dates back
to 2006 and amended in 2009 were allowed to own land for investors but
investment has seen a remarkable development.
And the national
investment Commission complained more than once for problems in current
investment law, noting that these problems impede investment and make
Iraq a anthelmintics, and amendments to the Government.
Iraq's
dilapidated infrastructure in most sectors as a result of the country's
several wars fought over the past three decades, as well as the
imposition of the economic embargo for more than 10 years.
Iraq
needs to contribute to investment projects with Government efforts in
the provision of basic services to the citizens and which still are
scarce despite the enormous financial budgets and from selling crude oil
imports.
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