October 18, 2020 | government

Iraq to target Import Tariffs


The Iraqi government has said it is taking action to 'end exemptions for some goods from import duties to increase income from border crossings'.

In a statement on Twitter, Minister of Finance Ali Allawi said:

'Iraq is facing a dangerous situation; oil revenues are not enough to cover state expenditure, including the salaries and pensions of those in the public sector.

'Income from border crossings is very important, but this is dependent on the volume of imports which is currently estimated to be worth around 60 billion US dollars annually.'

He added that the government is working to introduce automation and modernise customs and tariff collection. 'This will help prevent violations and fight corruption,' he said. 'Next year, Iraq will have a number of border crossings using automated processes.'

iraq-businessnews

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