In a strategic effort to alleviate the financial burden on citizens, Prime Minister Masrour Barzani has mandated the exemption of several taxes in the Kurdistan Region. This directive, communicated through a letter from the Presidency of the Office of the Council of Ministers dated July 23, was addressed to the Ministry of Finance and Economy.
The letter, identified as No. 3393, specifies the immediate exemption of taxes on restaurants, hotels, private hospitals, bakeries, and vacant land. This initiative aims to support businesses and individuals struggling with the current economic conditions.
The tax exemptions will remain in effect until tax collection procedures are regulated in coordination with federal agencies and amendments to the relevant laws are made. This decision underscores the Kurdistan Regional Government’s (KRG) commitment to easing the financial pressures faced by its citizens.
The exemption is anticipated to provide immediate financial relief to businesses and individuals, potentially leading to increased consumer spending and economic activity. By reducing the financial burden on key sectors such as hospitality, healthcare, and real estate, the KRG aims to stimulate growth and stabilize the local economy. Additionally, this measure could enhance business confidence and attract further investments in the region