Finance Ministry finalizes fresh draft on customs tariff

BAGHDAD / IraqiNews.com: The Iraqi Finance Ministry finalized on Monday a new draft law on the customs tariff to replace law 77/1955 currently in effect, according to a ministry press release. “The new draft, which is meant to keep pace with global development in this sphere, should help protect the national productions, improve price competitiveness, yield financial revenues for Iraq, and curb the flow of bad products into the local markets,” read the release as received by IraqiNews.com news agency. “The draft law would also take into account Iraq’s accession to international organizations,” it added. The ministry however, did not say whether the draft was referred to the cabinet nor elaborated on the time it should be submitted to parliament. AmR (P)/SR 3