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Iraq Agrees Joint Tax Exemption Deal with South Korea

Once signed the agreement will support economic cooperation between the two countries

In a move to boost bilateral trade between the two countries, Iraq and South Korea have reached an agreement to implement a joint tax avoidance scheme, according to a statement by South Korea's Ministry of Finance 

The deal, which has not been officially signed yet, will deliver economic benefits between trade for both countries.

South Korean companies have played a major role in many construction projects in Iraq with Hyundai Engineering and Construction Co. building a $6 billion refinery in Karbala and Hanwha Engineering and Construction Co planning to build 100,000 new homes south of Baghdad in a $7.75 billion project.

Source: Yonhap

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