Iraq and Switzerland sign double taxation agreement to boost economic cooperation

INA-  Baghdad


The Ministry of Finance announced on Thursday the signing of an agreement with Switzerland to prevent double taxation and enhance economic cooperation between the two countries.

“Iraq and the Swiss Federal Union signed, on Wednesday, February 26, the initials of the agreement to prevent double taxation and evasion of payment of taxes on income and capital, in a step aimed at enhancing economic cooperation between the two countries,” the ministry said in a statement received by the Iraqi News Agency (INA).

The Ministry added that “the Iraqi side in the negotiations was headed by Mohammed Hamza Mustafa, Director General of the Legal Department / Acting Director General of the General Tax Authority, with the participation of a number of officials, financial and legal experts and a representative of the Iraqi Fund for Foreign Development.”

It stressed that “the agreement aims to provide an encouraging investment environment and reduce tax burdens on Swiss companies and investors, which contributes to strengthening trade and economic relations between the two countries, especially since the Swiss Federation is an advanced country in the field of tax collection and cooperation will result in attracting Swiss capital, which is considered one of the most important investments in the Middle East region, which contributes effectively to advancing the development process in Iraq.”