17th October 2023 in Iraq Industry & Trade News
By John Lee.
The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars.
Full statement from the KRG:
According to Decree No. 227 of the Council of Ministers, dated September 20, 2023, customs duties and taxes at border crossings will now be exclusively levied in Iraqi dinar instead of US dollars. Non-compliance with this new regulation will result in penalties.
This decree, issued in accordance with Article 8 of the Kurdistan Regional’s Council of Ministers Law (amended No. 3 of 1992) and based on the recommendation of the Minister of Finance and Economy, establishes the sole use of Iraqi dinar for customs duties and taxes at border crossings.
Furthermore, the decree underscores that all ministries and relevant government institutions are required to adhere to this regulation, with violations at border crossings subject to punishment.
(Source: Ministry of Oil)
Iraq to charge Customs Duties/Taxes “Exclusively in Iraqi Dinars”
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