Iraq

The government of Iraq has thought of increasing the custom duty on imported cars very recently. A new law has also been brought out declaring that the custom duty on imported cars in Iraq will be 15%. It is only on cars, that the custom rise has been so steep. Other product imports have quite saved the clutch of the custom pinch. Along with this new custom rate, there will be a number of new regulations that have also taken place replacing the old one regarding import. These are some of the regulations made by the Coalition Provisional Authority, the authority which took the administrative charge after US invasion in Iraq in 2003. Since then, there has not been much change in the import rules.

The import duty is likely to be hiked in the interest of the local trade. Otherwise it has been noticed lately that because of the lenient import, the local products are taking a back seat and it is only the foreign imports that are reigning the market of Iraq. But the increase of import duty means, price rise and that is why the decision is held up for some time.

Import to any country has to abide by a number of rules and regulations. Iraq is no exception. There are a lot of documents needed to be produced at the time of the import. Custom declaration form, commercial invoice approved by the chamber of commerce and certified by the concerned authorities, bill of lading and certificate of origin are some of those documents needed. There is also pre shipment inspection by the custom officials. After this inspection the certificate of origin can be generated.