Iraq’s Finance Committee pleased to see Tariff Act implemented; Pushes for more laws to benefit private sector

Posted: December 12, 2013 in Iraqi Dinar/Politics
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Parliamentary Finance welcomes the decision of the application of tariff and calling him a “right”

12/11/2013 21:27
Tomorrow’s Press / Baghdad, described the parliamentary Finance Committee, on Wednesday, the government’s decision to apply tariffs to “right” demanding legislation to ensure that all laws supporting the private sector.

A member of the committee MP Hassan al-Bayati’s “Tomorrow’s Press,” “The Finance Committee has long demanded earlier that imposing tariffs on materials imported from abroad and produce at the same time in Iraq, so that the equation is a financial profitable for all those involved in the market,” He pointed out that “the government’s decision will bring economic results and financial returns to the country in spite of the delay.”

He called al-Bayati, the House of Representatives that “follows the government’s decision to pass laws that would support this decision and being able to continue without disruption of its implementation into law of social security for workers in the private sector, health insurance just like workers in the state.”

He pointed out that the MP “application of the tariff decision could help Iraq to get WTO membership which is the other great benefits will be reflected positively on the Iraqi economy.”

The Minister of Planning Ali Shukri, on Tuesday, the Cabinet decided to apply the system of tariffs on articles of luxury only as of the second day of the next year, 2014, explaining that the tariff include the imposition of a fee of 5% and above of the prices of those materials and 80% of the prices of alcoholic beverages .

The law provides for the imposition of customs duties on imported goods not included in the table of tariffs tariffs by no more than 20% of their value, while exempt samples and models that are not of commercial value from customs duties, also took into account the law in applying the provisions of the facilities afforded by the Investment Law No. 13 of 2006, as amended on imported goods for the purposes of investment projects exclusively, and it comes in order to attract the maximum amount of the investment companies and businessmen to work in Iraq.

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