Iraq is seeing an increasing number of foreign pharmaceutical companies looking to enter the market to supply medicine and healthcare equipment. Typically, foreign pharmaceutical companies enter into contracts with either The State Company for Marketing Drugs and Medical Appliance, “Kimadia” (a company which represents the Ministry of Health in Iraq), or with private entities.

Deloitte has a wealth of experience supporting pharmaceutical companies in Iraq. With an excellent working relationship with the tax authority, Kimadia and the Company Registrar, we have created a document to help support foregin pharmaceutical companies with the lengthy and complex process of obtaining closure from assessment of their Kimadia contracts. This document covers the following areas:

• How are Kimadia contracts taxed in Iraq?
• Why is the Tax Clearance Certificate (“TCC”) important?
• What is the tax assessment process?