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Iraq Imports Tariff Only Applies To 106 Goods  DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Iraq Imports Tariff Only Applies To 106 Goods

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Iraq Imports Tariff Only Applies To 106 Goods  Empty Iraq Imports Tariff Only Applies To 106 Goods

Post by Levitations Wed Jan 08, 2014 8:26 am

Iraq Imports Tariff

Iraq wishes to generate other sources of revenues because of its reliance which is almost entirely on one source of income in the formation of the national oil. Despite the efforts being made to develop other sectors such as agriculture and industry, the contribution to the national income is still a small contribution. One of the biggest obstacles to the advancement was the Iraq imports tariff affecting the industrial and agricultural sectors which form part of a free economy.

And the right to the flow of goods and cheap goods, including was doing extensive damage to the rest of the industry and local agriculture. Iraqi produced products remained without protection against the competition of imported goods which have various forms of support in their own countries.

Iraq imports tariff has been in preparation for the last three years, the customs tariff law was intended to regulate the indiscriminate import and find addition source of income into the state treasury. But the lack of infrastructure and the necessary mechanisms for the application of the customs tariff law was postponed until early 2014.

Ministry of Planning spokesman, Abdul-Zahra al-Hindawi, explained that the customs import tariff enters into force starting from the second of January 2014 inclusive in its first phase, 106 commodities, such as tobacco, alcoholic beverages and other goods which are considered a non-necessity in contrast to important items such as food which have been excluded from the tax.

Most houses are generally fitted with durable goods and household appliances, it is possible to impose customs fees reasonable on these imports.

Hindawi explained that the second phase of the application of the customs tariff law covering all goods and commodities that enter the Iraqi market, without specifying the date of commencement of this phase, noting that Iraq may be the only country in the world without controls despite the need to collect fees to boost the state treasury.
Professor of economics at the University of Mustansiriya, Abdul Rahman al-Mashhadani accepts the damage caused by the opening of the market in Iraq. The agricultural sector in some developing countries contributes to the tune of an additional 30 percent in jobs for the workforce.

It is expected with an average of 15 percent increase the Treasury revenues from import tariffs will increase form one billion to three billion dollars annually, a figure that does not mean much in a country like Iraq with a budget of $130 billion.

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Iraq Imports Tariff Only Applies To 106 Goods  Empty Re: Iraq Imports Tariff Only Applies To 106 Goods

Post by Ponee Wed Jan 08, 2014 9:13 am

THanks for the post Levi, I love when others bring things to the boards.  Makes my job easier.  :cheers:


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