WEDNESDAY, MAY 30 / MAY 2012
Revealed the Finance Committee in the House of Representatives, Wednesday, for the government decided to exempt food and clothing imported from the customs tariff, noting that work will begin to impose customs tariff on 06/30/2012.
A member of the parliamentary Finance Committee Haitham Jubouri for “Twilight News”, the food and clothing will be exempt from the application of the customs tariff system being one of the staples that related to the daily lives of citizens. “
“The tariff will be working gradually upward on goods from non-edible and drink such as cars, cigarettes and drinks,” noting, “If things were applied in this way there will be a control on the market and therefore, this increase would not cause the gradual inflation of a major.”
The member of the Finance Committee, “If things were applied in this way there will be a control on the market thus, these increases will not cause any inflation.”
He added that “Iraq is the only country in the world where there is no customs tariff law is a prerequisite for on impact and the World Trade Organization.”
And that “the application of tariffs will help in reducing the flow of goods to the poor country and that the law would stimulate the national industry and development programs stalled.”
Economists believe that the imposition of tariffs will lead to increased prices of imported consumer goods, an increase of duty or more, and this depends on the behavioral lobby business, and will lead to the possibility of increasing prices of goods produced locally (if the availability of this production) in order to cover the high costs of domestic production, or to increase the profits of the local product.
Jabouri said that “the imposition of the tariff will be introduced in the 30/06/2012.”
The former House of Representatives approved a tariff law earlier last year, and was the main justification for the issuance of this law according to a statement of the Council of Ministers is to set tariffs in line with the reform of the Iraqi economy and the amendments of the many that have occurred in the law, the law provides for the imposition of customs duties on imported goods is contained in the table of tariffs tariffs by no more than (20%) of its value, confirming that the samples and models that are not of commercial value exempted from customs duties, and took into account the law in the application of the provisions of facilities granted under the Investment Law No. 13 of 2006, as amended on goods imported for the purposes of investment projects exclusively, and comes with a view to attract the maximum amount of investment companies and businessmen to work in Iraq.