|Income Tax (Direct Deduction)
||It is a 5% of net income deducted from the salaries of the public and private sector employees on a monthly basis. Only employees making over one million Iraqi Dinars (1,000,000…
|Certified Cheques by Public Sector Commercial Banks
||Preparing certified cheques required in lieu of cash for the citizens or residents to process formal transactions at the government institutions. This type of check is required…
|Bank Guarantee (Letter of Credit)
||Any company or contractor winning a tender for any project implementation, must provide a Letter of Guarantee equal to the total project cost from one of the Public Sector…
|Cooperate Tax Collection
||It is the tax that all active companies in the Kurdistan Region, including the sole propriety firms, are liable to its settlement. It is a flat rate of 15% of the taxable income.
|Opening Current Account for the Private Companies
||Any company would like to open a bank account at one of the Governmental Commercial Banks is eligible to open an account and obtain cheque books in order to deposit or withdraw…
|Opening Personal Current Account
||Any individual is eligible to open a personal account at one of the Governmental Commercial Banks and can obtain cheque books in order to deposit or withdraw funds.