Iraq plans tax cut for foreign oil companies

Iraq plans tax cut for foreign oil companies

Iraq plans to reduce taxes on oil companies operating in the country, as existing tax laws have “scared off” many foreign operators, an official has revealed. The reduction is part of a national tax law being devised by the Arab nation’s supreme committee for tax reform (SCTR) in line with recommendations by the Arab Monetary Fund. SCTR chairman Abdul Hussein Al-Ankabi described the taxation of oil companies as a “complicated issue” that require…