Parliament set to approve 35% income tax on foreign oil companies operating in Iraq

摘要

Baghdad-A bill to impose 35% income tax on all foreign oil companies operating in Iraq had its first reading in the Iraqi parliament on September 12 with little opposition from legislators. The economic committee has already passed the bill. It is supposed to be given a second reading within two days but parliamentarians expect this step to be delayed until after the Eid al-Fitr holiday, which follows the Muslim fasting month of Ramadan. This delay could extend to the end of the month, depending on Parliament's schedule.