The legal framework for tax exemption and its role In attracting foreign investment

Abstract

The legal framework for attracting foreign investment in Iraq is the effective Investment Law No. (13) of 2006, which includes important incentives such as tax exemptions. The use of tax exemptions is essential in efforts to attract foreign investors to Iraq, because it serves as an incentive for investment institutions to direct their resources.  To the economy and to attract a greater number of foreign investments, and the influx of foreign investment is a major driver of economic expansion in Iraq, and it is necessary to carefully study these tax exemptions within the framework of investment laws and understand their profound impact on promoting foreign investment in the country, and to achieve the research goal of clarifying the role of tax exemptions  In attracting foreign investment to Iraq, the study was divided into two sections.  The first section dealt with the concepts of tax, tax exemption, and foreign investment, as well as the relationship between tax exemption and foreign investment.  The second section focused on tax exemption within the framework of Impact Investment Law No. 13 of 2006 and its tax incentives specifically designed for foreign investors.  One of the important results of this research is that many developing countries, including Iraq, give priority to foreign investment because of its stability and its ability to enhance the host country’s revenues by taking advantage of advanced technology to enhance services and increase the production of goods. This type of investment is free of speculation, is accompanied by technological progress, and brings experience.  Administrative.  Moreover, the foreign investor prioritizes the potential return on investment over the tax breaks offered to him.