On Sunday, the Iraqi Parliament’s Shafaq News/The Economy and Investment Committee exposed fascinating information on businesses running in the nation, stating that some of them are tax-free under political cover.
“There are investment companies that entered Iraq under the cover of political parties,” Yasser Al-Hussaini, the deputy head of the committee, informed Shafaq News Agency. “They are immune from taxes and fees, and some of them are totally exempt from taxes with the support of those parties.”
Al-Hussaini said, “The tax exemption for investment companies created feudal lords at the expense of Iraqi funds, and the exemption included companies working in residential complex and city projects such Al-Jawahiri City and other cities, in addition to investment projects in which the tax rate did not exceed 2%.”
He underlined that “tax exemption for investment companies, whether foreign or Iraqi, is done through the support of political parties to serve their own interests.”
