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Bond Ladys Corner » NEWS FROM IRAQ » Iraq General News, Economy & Oil News » Economic Commission decides the inclusion of foreign goods imported goods and the customs tariff

Economic Commission decides the inclusion of foreign goods imported goods and the customs tariff

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tlm724

tlm724
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[tlm724] this is hot ! Thank you Rocky for this article !

[tlm724] Economic Commission decides the inclusion of foreign goods imported goods and the customs tariff The Iraqi government has decided to include all foreign goods imported product and those of Iraqi companies customs tariff.

[tlm724] aims to protect the Iraqi product and support the national industry and decide the inclusion of all imported goods and materials Product those of the Iraqi public and mixed companies and special customs tariff No. 22 for the year 2010 by a law.

[tlm724] "in order to facilitate the import and export process, the Committee discussed the draft instructions for the import and export for the purpose of approval,

[tlm724] incredible they are about to impose tariffs on ALL IMPORTS !

[RCS1947] thats moving fast.....

[tlm724] RCS1947 sure is !


[tlm724] Tariffs Customs duties on merchandise imports are called tariffs. Tariffs give a price advantage to locally-produced goods over similar goods which are imported, and they raise revenues for governments

[tlm724] per the WTO

Import licensing: keeping procedures clear back to top Although less widely used now than in the past, import licensing systems are subject to disciplines in the WTO. The Agreement on Import Licensing Procedures says import licensing should be simple, transparent and predictable. For example, the agreement requires governments to publish sufficient information for traders to know how and why the licences are granted. It also describes how countries should notify the WTO when they introduce new import licensing procedures or change existing procedures. The agreement offers guidance on how governments should assess applications for licences. Some licences are issued automatically if certain conditions are met. The agreement sets criteria for automatic licensing so that the procedures used do not restrict trade. Other licences are not issued automatically. Here, the agreement tries to minimize the importers’ burden in applying for licences, so that the administrative work does not in itself restrict or distort imports. The agreement says the agencies handling licensing should not normally take more than 30 days to deal with an application — 60 days when all applications are considered at the same time.

^^^^ the Economic Commission directed that the instructions are high flexibility far from the red tape that hinders the import and export process to serve the Iraqi economic reality."

[tlm724] WTO. The Agreement on Import Licensing Procedures says import licensing should be simple, transparent and predictable

IMPORT POLICIES Tariffs On January 2, 2014, the government of Iraq started to implement the first phase of a 2010 tariff law that replaces the across-the-board 5 percent tariff rate enacted a decade ago by the Coalition Provisional Authority, with a much broader scale of some lower, and mostly higher, tariff rates. The 2010 law establishes rates on agricultural goods ranging from zero (for seeds) to 50 percent (for pork products, sugar, and tobacco) and 80 percent (for water and beverages). Tariffs on industrial goods range from duty free (some stones, minerals, organic and inorganic chemicals, dyes, rubber, wood pulp, some paper, locomotives, and aircraft), 5 percent to 15 percent (pharmaceuticals), 10 percent to 20 percent (apparel), 30 percent (bicycles, motorcycles, various electrical goods, electronic, information technology goods, and finished plastics) to 40 percent (carpets).

According to Council of Ministers (COM) Resolution 541 of December 10, 2013, several categories of goods were subject to immediate implementation: alcohol, tobacco, perfume, and certain cosmetic and toiletry products. On January 7, 2014, the COM granted an exemption from the first stage of tariff implementation to several broad categories of products: imports for public sector consumption, construction materials and equipment, food, agricultural supplies and equipment, and imports tied to government investment contracts. As of February 2014, it remains unclear how the government of Iraq will ultimately implement the 2010 tariff law in its entirety.

[tlm724] As of February 2014, it remains unclear how the government of Iraq will ultimately implement the 2010 tariff law in its entirety

[tlm724] that is from Office of the United States Trade Representative [You must be registered and logged in to see this link.]

[RCS1947] sure is good news!!

[tlm724] so in Feb they had no clue, whole new day now !

[RCS1947] yep

[tlm724] it's like everyday we get another piece of the puzzle , I find myself in awe, they are leaving no stone unturned

[RCS1947] me too!!!

[tlm724] RCS1947 just awesome , shakes head in amazement

[RCS1947] just incredible at the pace and scope of things....

[tlm724] yeah just blows me away    crazy good things happening , we are watching a nation being re-born literally !

[RCS1947] absolutely!

[tlm724] *kickA* we have a very short chain now    

[RCS1947] yes I think we do!


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Bond Ladys Corner » NEWS FROM IRAQ » Iraq General News, Economy & Oil News » Economic Commission decides the inclusion of foreign goods imported goods and the customs tariff

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