Iraqi minister calls to reform tax system
The Iraqi industry and mineral resources minister, engineer Hajim Alhuseini, demanded the Iraqi government to reform the existing customs system in order to be adjusted to the needs of the Iraqi public and private industrial companies.
The minister said some of the problems faced by local industrial companies is due to the current system. He added, according to <i>Almanar</i> newspaper, that the current system imposes high taxes on raw materials that are used by the Iraqi industries and waived the tax on the manufactured goods.
The minister indicated that there is a necessity to support Iraqi private sector in order to take its important role in the economy after the failure of the public sector. The minister disclosed that his ministry will lease some factories to the private sector and implement with it joint projects.