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Read Full Issue Iraq doubles down on import controls + tariffs: Iraq’s Commission of Border Crossing Points has published new guidelines for tariffs on cargo containers, goods, and gold entering the country, according to a statement. The changes come in accordance with a new prime minister decree as Iraq’s government looks to tighten controls on imports and money transfers and boost government revenues, Commission head General Omar Al Waely said.
The country imposed new tariffs: Tarrifs for 20-foot containers are now IQD 2 mn, while charges for 40-foot containers have been set at IQD 3 mn. Products shipped outside of containers are subject to previously approved tariff schemes. Added duties on cigarettes and tobacco were set to 20%, with their base tariff standing at 10%.
Tighter checks and new assaying fees and customs for gold imports: The country imposed assaying fees — IQD 50k per kilogram — for raw gold, gold bullion, and worked gold, while customs fees are IQD 100k per kilogram for raw gold and gold bullion, and 250k per kilogram for worked gold, the statement said.Imports of gold will also only be permitted through airports, with an additional requirement for importers to be registered companies that are permitted to make international transfers, it added. Other changes include a requirement for assaying and branding by Iraq’s Central Organization for Standardization and Quality controls.
Clearance operations also saw changes: Import licenses have been suspended, the statement said. The General Authority for Customs is also now obliged to accept certificates of origin and invoices from chambers of commerce that utilize QR barcodes under the national initiative to digitize authenticity checks.
One month grace period to abide by requirements on the origin of clearance payments: Phone, cigarette, and automobile importers will have to show that the SWIFT code for clearance payments are consistent with the codes on the goods they import, and to provide additional information regarding the legitimacy of funding if clearances are paid by an external account. Importers of the three categories mentioned have a one month grace period to tow the line, after which they could face money charges under money laundering and customs laws, the commission warned.
