An Iraqi Plan To Reduce Taxes On Foreign Oil Companies…A Search For An Attractive Investment Environment
Baghdad Today – Baghdad economic network revealed The IGBEA on Tuesday (September 16, 2025) that there is an Iraqi plan aimed at reducing taxes imposed on foreign oil companies operating in the country, as part of a broader effort to encourage investment and remove obstacles to the entry of international companies.
The network reported, as translated by Baghdad Today, that this step is in line with the recommendations of the Arab Higher Council for Tax Reform, affiliated with the Arab Monetary Fund.
She pointed out that high taxes in Iraq over the past years have “scared many companies” from entering the Iraqi oil market.The report added that the Iraqi plan will take into account the tax reforms approved by the Arab Council for Foreign Companies, confirming, quoting an Iraqi official, that “the tax situation in Iraq is currently complex and requires a comprehensive review,” to ensure oil investment attracted and enhance the country’s competitiveness in global markets.
Over the past few years, Iraq has faced criticism from international institutions calling for financial and tax reforms to create a more transparent and stable investment climate.
This explains why the current plan is linked to the recommendations of the Arab Supreme Council for Tax Reform and the Arab Monetary Fund.
The tax reduction is expected to help attract more international oil companies, ensuring continued investment flows into Iraq‘s energy sector, which needs to develop its infrastructure and expand its production capacity to keep pace with global demand for oil.
https://baghdadtoday.news/283302-.html
Government Advisor: The Digital Sector Is A Driver Of Development And An Engine Of Economic Diversification.
Saleh, emphasized that the digital sector represents the most powerful engine for generating job opportunities for young people, achieving sustainable development, and rapidly diversifying the national economy.
Saleh stressed to Al Furat News Agency that “establishing national digital platforms to support entrepreneurs and small and medium-sized enterprises represents an important employment engine,” emphasizing that the digital economy is a true lever for economic diversification, given its superior ability to transcend geographical borders and traditional structures, and to connect Iraq, which is rapidly accelerating, with the global economic system.
Saleh pointed out that this transformation requires high-level institutional coordination between various government sectors, based on strategic investments in human infrastructure and modern technology.
He explained that this step requires the development of comprehensive and sustainable development plans to build the “economy of the future.”
He emphasized that the matter goes beyond being a mere economic process, becoming a strategic shift in the course of the state and society, and an “irreversible project” within the efforts to diversify the national economy.
https://alforatnews.iq/news/مستشار-حكومي-القطاع-الرقمي-قاطرة-التنمية-ومحرك-التنوع-الاقتصادي
US Treasury: Iraq Is Not Among The Top 20 Countries With The Largest Bond Holdings.
Saturday, September 20, 2025, | Economic Number of readings: 225 Baghdad/ NINA / The US Treasury Department announced that Iraq is not among the 20 countries with the largest holdings of US bonds, while two Arab countries are among the largest.
The Treasury stated in its latest table from September:
“Iraq has not been included among the top twenty holders of US bonds, as its holdings have declined from $40.8 billion in 2023 to less than $30 billion in 2024.”
She added, “Both Saudi Arabia and the UAE were among the 20 countries holding the largest amount of US bonds, with $131.7 billion and $107.8 billion, respectively.”
She pointed out that “the countries with the largest holdings of bonds were Japan, with $1.151 trillion, followed by the United Kingdom, which holds $899 billion, followed by China, with $730 billion, the Cayman Islands, with $438 billion, and Belgium, with $428 billion.”
In August 2023, the US Treasury announced that Iraq had dropped one place among the largest foreign holders of US bonds.
The Treasury said at the time: “Iraq dropped one rank despite increasing its holdings of US Treasury bonds for the month of June by $300 million,reaching 37th place among the 38 countries listed in the table with the largest holdings of US Treasury bonds,” indicating that “Peru increased its holdings of bonds to occupy 36th place instead of Iraq.”
She added, “Iraq‘s holdings of these bonds reached $33 billion in June, a 0.92% increase from last May,
when Iraq‘s holdings of bonds reached $32.7 billion. However, they increased by 3.12% from June 2022.”
The Treasury noted that “Iraq came in fourth place as the Arab country after Saudi Arabia, the UAE and Kuwait, while Japan came in first place as the country with the largest holdings of these bonds, at $1.105 trillion, followed by China in second place with $835 billion, the United Kingdom in third place with $672 billion, Belgium in fourth place with $332 billion, and Luxembourg in fifth place with $331 billion.” /End 7 https://ninanews.com/Website/News/Details?key=1252840
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