Cabinet approves exemption Iraqi and foreign companies executing projects from taxes and fees

05/15/2013 - 13:52

Alsumaria News / Baghdad
The Council of Ministers approved on Wednesday, a bill exempting Iraqi and foreign companies implementing investment projects from taxes and fees and to allocate it to the parliament.

The General Secretariat of the Council of Ministers in a statement received "Alsumaria News", a copy of which, "The Council of Ministers approved a bill exempting Iraqi and foreign companies implementing investment projects from taxes and fees."

The Secretariat added that "the Council referred the project to the House of Representatives."

The House of Representatives passed, in October 2006, the Iraqi investment law, who was with him at the time that it would open the doors to foreign investment, due to submit a lot of facilities to foreign investors, but many foreign companies are still hesitant because of fears of security reality unstable in Iraq, adding that the law did not give investors the right to ownership of the property for the project, and equated the Iraqi investors and foreign investment in all privileges, except for real estate ownership, as can a foreign investor to lease the land for 50 years renewable, according to paragraph 11 of the Code investment.


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