Doing guide Understanding Iraq’s

Doing business guide | Understanding Iraq’s tax position

Contents

04 04 04 06 Country - overview Government Economy – overview Indicators for starting a business in Iraq

06 07 08 13 Procedures for starting a Entering the market Taxation in Iraq Deloitte in Iraq – how can business in Iraq you benefit?

03 Doing business guide | Understanding Iraq’s tax position

Country - overview • Improving infrastructure in the energy Government • The macroeconomic outlook in Iraq is and power sectors is expected to be expected to improve due to increased oil key in improving economic growth and Government prices, and growing investments in public attracting private sector investment. The Government Federal Parliamentary Republic and private sectors. Government of Iraq has identified US$ type • Higher oil prices have improved the 4.6 billion urgent spending needs in the budget deficit of 9% of the GDP in 2016 power sector, representing nearly a Chief of State Barham Salih, President to a surplus of 1.2% in 2017. Iraq’s GDP quarter of all priority spending, and is Head of Adil Abdul al-Mahdi, Prime growth is estimated to increase from committed to reforming the electricity Government Minister 1.9% in 2018 to 6.2% in 2019 due to sector, supported by the World Bank. Legal system Mixed legal system of civil and increase in oil prices and oil production. • Whilst reconstruction efforts have been Islamic • However, given that oil production is only slow due to political uncertainity post expected to increase marginally in future the May 2018 elections, with the Administrative 18 governorates (muhafazat, divisions singular—muhafazah (Arabic); years, Iraq is currently looking to diversify establishment of a new government, it is parezgakan, singular—parezga its economy and decrease its anticipated that restoring basic services (Kurdish)) and one region; Al dependence on oil. Iraq’s five-year and developing critical infrastructure will Anbar; Al Basrah; Al Muthanna; National Development Plan focuses on be prioritised. Al Qadisiyah (Ad Diwaniyah); An Najaf; Arbil (Erbil) (Arabic), Hewler increasing the non-oil revenue from the (Kurdish); As Sulaymaniyah services, manufacturing, construction, (Arabic), Slemani (Kurdish); Babil; water and electricity production, and Baghdad; Dahuk (Arabic), Dihok (Kurdish); Dhi Qar; Diyala; agriculture sectors to achieve economic Karbala'; Kirkuk; Kurdistan growth. Regional Government; Maysan; Ninawa; Salah ad Din; Wasit

Source: Central Intelligence Agency Factbook, The Economist Intelligence Unit

Economy - overview

Oil and Gas • Iraq’s economy is largely dependent • As of 2018, Iraq has total proven • In October 2018, a decree transferring on the oil and gas sector. Oil accounts natural gas reserves of around 135 the ownership of nine state-owned oil for 65% of the GDP, 92% of the central trillion cubic feet, the 12th largest companies from the oil ministry, to and almost in the world. the newly-formed National Oil 100% of the country’s . • Approximately 75% of the gas Company was issued. However, • The country’s oil reserves are the reserves are associated with oil and following the formation of the fifth-largest in the world. However, the majority of the natural gas is government, this has been put infrastructure bottlenecks pose a flared due to insufficient on hold. major threat for capacity expansion infrastructure. Majority of the natural in Iraq. gas produced in the country is utilized • Iraqi oil output would likely average for electricity generation. South Oil 4.50-4.55 million bpd till June 2019, Company is in the process of when the latest round of the OPEC constructing gas processing facilities mandated production cuts comes that are expected to commence to an end. With capacity additions production in 2019 and 2020. Iraq is planned from 2020, oil output is committed to eliminating routine expected to surpass 5 million bpd natural gas flaring by 2030. in 2021.

04 Doing business guide | Understanding Iraq’s tax position

Iraq’s crude oil exports in 2017 Iraq’s five-year National Development Plan 5% focuses on increasing the 4% 4% non-oil revenue from the 9% services, manufacturing, 13% construction, water and electricity production, and 22% agriculture sectors to achieve economic growth. 19% 54% 17% 16%

7%

1%

22%

Asia Europe Americas Africa and Middle East

Greece Other Europe Other Americas

India China Other Asia

Source: US Energy Information Administration

05 Doing business guide | Understanding Iraq’s tax position

Doing business in Iraq

Indicators for starting a business Iraq’s ranking on doing business parameters in 2019 in Iraq Starting a business

Indicators Iraq MENA OECD Resolving insolvency Dealing with 155 construction permit Procedures 168 (number) 8.0 7.2 4.9

Time 103 26.0 20.5 9.3 (days) Enforcing contracts Getting electricity 126 Cost 43 (% of income 38.8 22.6 3.1 per capita)

Paid-in min. capital 113 16.6 8.1 8.6 (% of income Trading across 181 Registering property per capita) borders

186 Source: Doing Business Report Iraq 2019, World 129 124 Bank Group Paying Getting

Protecting minority investors

Source: Doing Business Report Iraq 2019, World Bank Group. Note: A total of 190 economies were considered in the study for rankings

Procedures for starting a business in Iraq

Number Procedure Time to complete Associated cost

01 Reserve a unique company name at the 1 day IQD 250,000 Baghdad Chamber of Commerce

02 Reserve a unique company name at the 1 day IQD 250,000 Federation of Chambers of Commerce

03 Hire a lawyer to draft articles of association 1 day About IQD 1,500,000

04 Deposit the initial capital at a commercial 2 days IQD 5,000 – IQD 25,000 bank and obtain proof thereof

05 Apply for registration at the Companies 15 days IQD 250,000 - 350,000 Registry

06 Obtain the registration certificate 1 day Included in procedure 4

07 Make a company seal 2 days IQD 20,000

08 Register employees for social security 3 days IQD 20,000

Source: Doing Business Report Iraq 2019, World Bank Group

06 Doing business guide | Understanding Iraq’s tax position

Entering the market “trading with” or “trading in” Iraq. In The tax authority in Federal Iraq is the Types of legal entity summary, “trading with” Iraq should not General Commission for Taxes (GCT). As a general rule, any non-Iraqi company result in an Iraq tax liability, whereas Recently, the Large Taxpayer Department which is “carrying on business” in Iraq is “trading in” Iraq will. (LTD) has been set up within the GCT to required to establish an Iraqi legal deal with the branches of foreign presence (e.g. company, branch office). “Trading with” vs. “Trading in” Iraq companies. Whilst there is no specific definition of Broadly, a non-resident would be what constitutes “carrying on business” considered to be “trading in” Iraq when The tax authority in the Kurdistan Region is in Iraq, typically an obligation would arise contracts are concluded in Iraq, payments the Directorate (ITD). The ITD when a company obtains premises for the services are made into an Iraqi has established a Large Taxpayer (including rented premises) in Iraq, or bank account, or services are physically Department to look after the companies retains personnel on a more than provided in Iraq. Critically, this may also classified as “large taxpayers”. The tax year temporary basis. Penalties may apply in include cases in which services are in Iraq is the calendar year *. respect of failure to register the enterprise. provided through a business agent or subcontractor in Iraq. There are a number of principal business As a general rule, any entities in Iraq, including joint stock A contractor “trading in” Iraq will need to non-Iraqi company which company, company, joint register a legal entity in Iraq, register for liability company, sole owner enterprise tax purposes and submit annual corporate is “carrying on business” and branch office. In practice, the most income tax filings. Information on the in Iraq is required to common form of entities for foreign contract should strictly be sent to the investors are the Limited Liability Company tax office, in order for the tax office to establish an Iraqi legal (LLC) and branch office. There are currently determine whether the contractor is presence - i.e. a company no restrictions on foreign ownership of an liable for tax, i.e. whether the contract is Iraqi LLC. Therefore, a foreign investor can considered to be “trading in” Iraq, and or a branch office. hold 100% of the share capital of an Iraqi therefore whether retentions should be LLC under Iraqi company law. made on payments under the contract. Taxable income is broadly total income Further to the issue of New foreign As the Instructions are currently drafted, less allowed deductions. Taxable income branches regulation No.2 of 2017, it is there is no de minimis time limit for generally includes all income from now possible for entities that do not have provision of services in Iraq – therefore whatever source. The Federal Income Tax contracts with the government to register strictly as little as one day spent working in Law provides that expenses incurred in a branch in Iraq. Iraq should be considered to be “trading generating taxable income during a period in” Iraq, and therefore give rise to an should be deductible in calculating taxable It is difficult to predict the time taken to exposure to tax in Iraq. income. register a legal entity in Iraq, but a time frame of 6 to 12 months would be typical. Taxation in Iraq Article 2 of the Federal Income It is generally faster and more Residence defines types of income which are subject straightforward to register a branch of a An entity is resident if it is incorporated to tax in Iraq. According to Article 2, the foreign company than an LLC in Iraq. under the of Iraq or has its place of following types of income are included as management and control in Iraq. An entity taxable: is non-resident if it does not meet the • Profits from commercial activity or from Iraq’s income tax law does not recognize criteria for a resident entity. activity having a commercial nature, the concept of permanent establishment. vocations and professions, including However, Iraq broadly takes a territorial Tax administration contracts, undertakings and approach to taxation. In addition, contracts The main source of tax law in Iraq is the compensation for non-fulfilment thereof with non-residents are also specifically Federal Income Tax Law No.113 of 22 if not for making good a loss sustained covered by Instructions No. 2 of 2008 (the November, 1982, as amended in 2003 by the taxpayer; “Instructions”), which broadly set out tests (the “Federal Income Tax Law”). to define whether the non-resident is

* As a semi-autonomous region in Northern Iraq, the Kurdistan Region has introduced certain laws and practices which differ from the position in Federal Iraq. Throughout this guide, we have provided our comments with respect to Federal Iraq, unless otherwise noted. Where the position in Kurdistan Region differs materially from that in Federal Iraq, we have noted this.

07 Doing business guide | Understanding Iraq’s tax position

• , commissions, discount and Article 8 of the Federal Income Tax Law be adopted by the GCT where the entity profit arising from trading in bonds and sets out certain expenses which are is loss-making, or where the audited UAS securities; specifically allowed as deductions in financial statements indicate low profit • Rental of agricultural land; calculating taxable income. As a general margins. • Salaries, pensions, bonuses, wages of principle, it is stated that all expenses specified work in a limited period of incurred by the taxpayer in order to Withholding tax time, allowances of workers including produce income during the year shall be Iraq has a complex legislative framework payments in or allowances for the deducted in calculating taxable profits. with respect to withholding tax and tax taxpayer against his services, such as Any deductions which are claimed retentions. In practice, there are few final housing, food and accommodation; and should be supportable by appropriate withholding taxes, however specific focus • Any other source not exempted by law documentation and it is common for the should be given to contracts which fall and not liable to any tax in Iraq. authority to request any supporting within the scope of Instructions No. 2 of 2008, concerning contracts with foreign parties, and Instructions No. 5 of 2011, There is currently no de minimis time for upstream oil and gas contracts. limit for provision of services in Iraq - In practice, there is no withholding tax therefore strictly as little as one day on dividends. spent working in Iraq may give rise to Interest A tax of 15% applies to payments of an exposure to tax in Iraq. interest from an Iraqi LLC or branch to a non-Iraq resident (e.g. the foreign parent Article 5 provides that “tax shall be documentation that they consider is company or non-resident bank). imposed on income of the Iraqi person necessary to gain comfort with respect resident which arises inside or outside to the financial statements and tax Rents and royalties Iraq, regardless of the place of receipt.” calculation. In practice, the GCT frequently There is no specific legislation that “Person” in this context refers to both reverts to a deemed profit basis of addresses withholding tax on payments for natural persons and legal persons (i.e. assessment, by applying a percentage to royalties. However, there are provisions in companies, branches of foreign the entity’s turnover to arrive at a deemed the tax law which the tax authority could companies, etc.). profit which is then subject to corporate use to argue that such payments should income tax at the applicable rate. The be taxable in Iraq i.e. if the income is Tax is also imposed on the income of a GCT has produced internal guidance which considered to be “income arising in Iraq.” non-resident which arises in Iraq even if sets out deemed profit rates for certain To the extent that payments for it is not received in Iraq. industries, which is typically updated on management fees, technical services, rent an annual basis. We would note that the etc. are made by the Iraqi entity to a Basis of taxation internal guidance issued by the GCT is not foreign entity, there is a risk that the tax Entities registered in Federal Iraq are legislation, and accordingly should not be authority could argue that such payments required to prepare annual financial legally binding on the tax authority or are subject to tax in Iraq, on the basis that statements, which should be prepared taxpayer. they relate to “income arising in Iraq.” In in Arabic and in accordance with Iraqi practice, the tax authority generally defers Uniform Accounting Standards (UAS). The percentage to be applied to the to the legislation regarding tax retentions According to the tax law, if supporting entity’s revenue can vary, depending on and we note our comments below in this books and records are maintained, the specific industry and activities respect. corporate income tax should be calculated performed, but a percentage of around based on the accounting profit as per the 20-25% would be typical. This deemed taxpayer’s Iraqi UAS financial statements. profit approach is typically more likely to

08 Doing business guide | Understanding Iraq’s tax position

Tax retentions Instructions No. 5 of 2011 - Oil and gas and diversification of its economy. Instructions No. 2 of 2008 – Contracts contrac ts Key highlights are as follows: between Iraqi and foreign contracting Instructions No. 5 of 2011 and subsequent • Exemption from ‘taxes and fees’ for a parties amendments provide that subcontractors period of 10 years. The period of the tax The main provisions regarding tax to whom the Oil and Gas Tax Law applies exemption can be further increased to a retentions are set out in Instructions No. 2 should be subject to retentions of tax on period of up to 15 years at the discretion of 2008 and subsequent amendments, their contract payments at a rate of 7% of of the National Commission for which require that information relating to the gross amounts, for petroleum Investment, subject to the level of Iraqi contracts with foreign suppliers be contracts and at a rate of 3.3% for non- participation in the project. disclosed to the GCT in order for the tax petroleum contracts. • Investment licences are granted on a office to determine whether the contractor project by project basis – rather than to is liable for tax and to confirm the rate of Iraq has a complex an entity as a whole. retention. legislative framework with • The investment licence is granted under restricted conditions. Retentions of tax on payments for certain respect to withholding tax contracts must be made by the payer, at and tax retentions. Exemptions typically apply in respect of various rates up to a maximum of 10% of corporate income taxes only, and the gross payments, depending on the Specific focus should be employment taxes in respect of individuals nature of the contract/services performed, given to contracts which working under the project should remain plus the whole of the final instalment payable. payment. fall within the scope of Instructions No. 2 of 2008 Cabinet Decision No. 167 of 2010 Tax retentions under Instructions No. 2 Cabinet Decision No. 167 of 2010 provides of 2008 are not intended to be a “final” and Instructions No. 5 of for an exemption from corporate income withholding tax. Amounts retained on 2011. tax, Iraq reconstruction tax, instalment payments should be and other charges in relation to contracts transferred to the tax authority within a for projects that contribute to the period of 30 days from completion of work. The Instructions provide that the entity development of Iraq. In addition, contracting entities may not making the payment should remit the pay the final amount to contractors and retained amounts to the tax authority Free zones/neutral zones contracting parties, unless with the written within 30 days of making the payment, The General Authority for Free Zones approval of the GCT. with the amounts to be held by the tax (GAFZ) was established to manage the authority to be reconciled with the free zones in Iraq, and this authority sits Alternately, where no tax clearance contractor’s final tax calculation. In within the Ministry of . certificate is provided, the party making the addition, the whole of the final instalment payment should be required to withhold payment should be withheld from the Decree No. 170 for the year 1998 was 10% of the final instalment payment and contractor until the contractor has issued on 19 October 1998, to exempt remit it to the GCT, before releasing the completed the corporate tax filing and investment projects which are conducted final payment to the supplier. Tax has obtained a tax clearance. within the free zones, and the capital clearance can strictly only be awarded invested in the free zones, from income tax once the supplier has completed their tax Tax exemptions and . According to the decree: filing obligations and settled any due taxes Investment Law No. 13 of 2006 in Iraq. Investment Law No. 13 of 2006 provides • Investment projects in the free zones and for certain tax exemptions and benefits for the capital invested in them along with Tax retentions are not consistently applied investing in Iraq. The broad objective of the the profits and annual interest will be in Kurdistan Region, other than on Investment Law is to promote investment exempted from income tax and stamp payments made by the public sector, and transfer modern technologies in order duty or other duties. Goods and which often include a 5% tax retention. to contribute to the development of Iraq materials may be imported into the free

09 Doing business guide | Understanding Iraq’s tax position

Entities registered in zones free of customs duties. Non-Iraqi required to submit the completed self- employees’ income in the free zone is assessment corporate tax return. Federal Iraq are required exempt from income tax. to prepare annual • 50% of the Iraqi employees’ income in Electronic payment of taxes has now been the free zone is exempt from income tax. facilitated in Federal Iraq. In Kurdistan financial statements in Region, payments of taxes are still made Arabic in accordance with Tax treaties only through certified cheques issued by Iraq has not entered into any material tax government banks. Iraqi Uniform Accounting treaties with other jurisdictions. There is a Standards (UAS). treaty of the Arab Economic Union Council, of which Iraq is a signatory; however, we Under the Federal Income Tax Law, the do not see this applied widely in practice. headline corporate income tax rate is a flat rate of 15%. A separate tax law was passed Corporate income tax in March 2010, Law No. 19 of 2010 (the Registration Oil and Gas Tax Law), which applies to Following registration of the LLC or upstream oil and gas companies, and branch of a foreign company in Iraq, the supporting industries operating in Federal entity is required to register with the GCT Iraq. in Federal Iraq for corporate tax purposes. In Kurdistan, registration is typically The Oil and Gas Tax Law provides for an completed for corporate tax at the time of increased corporate income tax rate of making the first corporate tax filing. i.e. the 35% on contracts concluded with foreign Kurdish entity will be required to make its oil companies and their subcontractors first filing for corporate taxes by 30 June operating in Iraq in the field of oil and gas following the year-end and it is typical to production and associated industries. complete the registration with the tax authority (for all taxes) at that time. A flat rate of 15% applies to all industries in the Kurdistan Region. At the time of Filing and payment writing, it is not expected that the Oil The tax year in Iraq is the calendar year. and Gas Tax Law will be enforced in the Financial statements must be prepared Kurdistan Region of Iraq; however, this under Iraqi Uniform Accounting Standards position should be monitored. (UAS) in Arabic and audited by an accredited Iraqi auditor.

The audited UAS financial statements should be submitted to the GCT, together with the corporate income tax return, by May 31 following the year end, with payment due following the tax authority’s assessment of the tax return.

In Kurdistan Region, the audited Iraqi UAS financial statements should be submitted to the ITD, by 30 June following the year end. In addition, Large Taxpayers are

10 Doing business guide | Understanding Iraq’s tax position

Personal income tax month, and to submit annual tax returns Interest on late paid taxes is applied at a In Federal Iraq, personal income tax on behalf of their employees. The annual rate of 11% per annum on the amount applies on employees’ salaries at the employment tax declaration must be made outstanding in Federal Iraq. In Kurdistan following rates: before 31 March of the year following the Region, interest on late paid tax is applied • Up to IQD 250,000: 3% tax year. at a rate of 1.5% per month. • Between IQD 250,000 and 500,000: 5% • Between IQD 500,000 and 1,000,000: In Kurdistan Region, taxes withheld from Late payment of social security 10% the employees should be remitted on a contributions attracts a penalty of 2% of • Amounts in excess of IQD 1,000,000: 15% quarterly basis. The withheld taxes along the amount of contrbutions due per with the quarterly employment tax returns month of delay. Personal income tax is applicable for both are required to be submitted within 21 Iraqi residents, and non-Iraqi residents days following the end of the quarter. The Visas/work permits/labor laws who have Iraq source income. Personal annual employment tax declaration must Foreign individuals working in Iraq are income tax is broadly levied on all be made before 1 March of the year required to obtain a visa and work permit. employees’ income, including basic salary following the tax year. The visa requirements in Iraq are subject and allowances which are paid in addition to change and therefore it is to basic salary. Iraq’s tax legislation sets Social security contributions should be recommended to obtain specific out certain exemptions / deductions which filed by the end of the month following the legal/immigration advice in this respect. are available in calculating taxable income. month in which salaries are paid both in Federal Iraq and Kurdistan Region. In Kurdistan Region, a rate of 5% is applied to employees’ salaries. The Kurdistan Region tax authority generally In Federal Iraq and Kurdistan Region, levies income taxes on basic salary plus any allowances in excess of 30% of the personal income tax is applicable for basic salary. Individuals are entitled to a tax-free legal allowance of IQD 1,000,000 both Iraqi residents, and non-Iraqi per month. residents who have Iraq source income. Social security Social security applies to employees’ salaries at the rates of 5% for the Penalties Indirect taxes employee contribution, and 12% or 25% Penalties on unpaid or late paid Value added tax for the employer contribution. In practice, employment taxes for both Federal Iraq Iraq levies on certain consumer it is possible to apply for a formal and Kurdistan Region are as follows: 5% of products, including five-star hotels, phone exemption from social security for the amount outstanding if payment is not cards, tobacco and alcoholic beverages. expatriate individuals who are working made within 21 days of the due date; an in Iraq. additional 5% penalty if the tax still is Stamp duty outstanding after a further 21 days (i.e. Stamp Duty Law No. 71 of 2012 provides The social security contribution rates in 42 days in total). that the signing of contracts should be Kurdistan Region are 5% for employees subject to stamp duty at a rate of 0.2%. and 12% for employers. In the Kurdistan Region, penalties on late filing generally are limited to an amount of In practice, the payment of stamp duty is Filing and payment 10% of the tax liability, up to a maximum of not common for contracts between private Employers are required to withhold taxes IQD 75,000 per year. However, this cap of parties, where the contract is not intended on behalf of employees and pay the tax to IQD 75,000 does not apply to Large to be presented to a court or official office. the tax authorities by the 15th day of each taxpayers. In such instances, the parties will not pay

11 Doing business guide | Understanding Iraq’s tax position

the stamp duty at the time of signing the Additionally, the IGCC has announced that 10% is assessed on the annual revenue contract, but only if it becomes necessary effective January 2019, customs duty for all real estate property. The annual at a later date to either present the would be levied on all goods imported into revenue for each real estate property is document to a court or an official office. Iraq, including those imported by state discounted by 10% for expenses and departments, public and mixed sectors, maintenance before assessing tax on it. Conversely, for contracts to which the civil organizations and private parties. government is a party, stamp duty will typically be paid at signing unless an In practice, the application of the customs exemption is relevant. duty has been largely inconsistent and subject to the discretion of the IGCC. Customs duty In January 2018, The Iraq General Other taxes Commission of Customs (IGCC) announced Real Estate Tax the unification of the classification of Law No. 162 of 1959 and its amendments, goods into four main categories and the Law of the Real Estate Tax, provides for a applicable custom duty rates to be tax on revenue derived from Real Estate in between 0.5% - 30%. Iraq. According to the Law, a basic tax of

12 Doing business guide | Understanding Iraq’s tax position

Deloitte in Iraq – how can you benefit? Using our expertise to add value and Deloitte has legal entities Deloitte Middle East (DME) is committed reduce risk to providing client insight and delivering We understand the risks and challenges registered in Baghdad, thought leadership to help our clients keep that your business faces in Iraq. We have Federal Iraq and Erbil, abreast of key developments in the tax a deep understanding of the Iraqi landscape. Deloitte has been present in accounting and tax compliance process Kurdistan Region with the Middle East since 1926, making it the and we manage accounting and audit, dedicated resources on longest standing professional services firm corporate income tax, withholding tax, in the region. employment tax and social security the ground, available to compliance for some of the world’s meet with our clients DME launched an International Tax largest companies operating in Iraq. Services Center for Excellence in Dubai in locally and to liaise with 2009. The center offers our clients as well Knowledge and value regulatory and tax as investors in the region services which Statistically, Iraq ranks as one of the most include structuring groups with inbound difficult countries in which to complete tax authority personnel as and outbound investments within the filings. Due to the lack of developed required. Middle East and North Africa. The center systems and infrastructure in Iraq, the tax leads some of our largest global tax compliance process in Iraq is inherently engagements. more challenging than in many of the other jurisdictions in which we operate. Our team DME’s practice has been awarded a Tier 1 has extensive working knowledge of the ranking in tax services for seven Iraqi investment and regulatory climate, consecutive years by the International and accordingly will be well placed to Tax Review’s World Tax Awards. Top tier provide support with regards to corporate rankings are provided to firms that have income tax, employment tax and social “an international network and leading security filing obligations, and to create reputation” which is “reflected in the size lasting value as your business develops its and quality of transactions” in the relevant operations in Iraq. jurisdiction (International Tax Review).

Deloitte has legal entities registered in Baghdad, Federal Iraq and Erbil, Kurdistan Region with dedicated resources on the ground, available to meet with our clients locally and to liaise with regulatory and tax authority personnel as required. Our tax practice is centrally headquartered in Dubai, with dedicated tax professionals available to travel as required to meet with our clients in Iraq and the wider Middle East region.

13 Doing business guide | Understanding Iraq’s tax position

Want to do business in Iraq?

We are here to help. Deloitte and Touche Management Consulting, W.L.L

Baghdad Al Mansour, Al Amirat Street District #601, Street 15 Villa no. 41 Baghdad, Iraq

Ayad Mirza Alex Law Erbil Iraq office managing partner Iraq Tax leader Empire Business Complex Tel +964 (0) 770 694 6554 Tel +971 (0) 4506 4891 Block C1 – 5th Floor [email protected] [email protected] Erbil, Iraq

Tel +964 (0) 66 257 6200 www.deloitte.com

We welcome the opportunity to discuss your needs further and provide you with a better understanding of the issues discussed in this material. Please feel free to contact one of our specialists.

The ‘Doing business guide’ series is supplemented by the Middle East Tax Handbook , which provides a summary Brisida Acar Atheer Aljuboory of basic tax information in a country-by- Senior manager, Tax Senior manager, Tax country snapshot. Tel +971 (0) 4506 4907 Tel + 964 (0) 66 257 6200 [email protected] [email protected]

14 Doing business guide | Understanding Iraq’s tax position

15 This publication has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this publication.

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