Warnings from the exploitation of customs tariff law for-profit

Economic analyst warned Ibrahim al-Mashhadani, from the exploitation of some traders to the customs tariff law to raise prices in the market doubly, indicating that the local market is dominated by the “sharks” who exploit opportunities for profit.

Al-Mashhadani (of the Agency news): The activation of the customs tariff law not be complete without the presence of agricultural and industrial sectors effective, because the basis of law is to protect local product, though it will lead to increased prices in the domestic market. He added that the Iraqi market is dominated by the “sharks” are importing goods and are looking for an appropriate time to increase prices, pointing out that they would use the law to raise the prices of goods and materials in multiple markets. He called for the need to increase the proportion of customs duties on imported goods produced in Iraq, whether agricultural or industrial to support the local product, while the materials are not in Iraq should be exempted from duties or reduce the percentage it.

Identified in the Ministry of Finance February 16, 2012 the first of June next date for the direct tariff for all goods entering Iraq to support the production, industry, local agriculture and reduce flood the market with shoddy goods.

The law provides for the imposition of customs duties on imported goods, not included in the table of tariffs customs duties, by no more than (20%) of its value, to be exempt samples and models that are not of commercial value, customs duties, and took into account the law in the application of its provisions , the facilities afforded by the Investment Law No. (13) for the year 2006, as amended, on goods imported for investment projects exclusively, and comes with a view to attract the maximum amount of investment companies and businessmen to work in Iraq.