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Iraq Tax Information

No general VAT

No VAT system. Sales tax 300% on luxury goods only. Corporate tax 15%. Income tax progressive.

Financial Advisor Services to Invoice

  • Financial planning
  • Investment advisory
  • Retirement planning
  • Tax planning
  • Estate planning
  • Insurance review
  • Wealth management

Invoice Requirements in Iraq

Tax registration
Business license
Client details
Invoice number
Total in IQD

Payment Terms

Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

CashNet 15Net 30Advance

Payment Methods in Iraq

CashBank TransferQi CardRasheed BankTBI

Financial Advisor Invoice Tips

  • Include advisor registration
  • Reference advisory agreement
  • Note AUM if applicable
  • Document planning deliverables
  • Meet compliance requirements

Frequently Asked Questions

What tax rate applies to financial advisor invoices in Iraq?

Iraq has No general VAT. No VAT system. Sales tax 300% on luxury goods only. Corporate tax 15%. Income tax progressive.

What payment methods are common for financial advisors in Iraq?

Common payment methods in Iraq include: Cash, Bank Transfer, Qi Card, Rasheed Bank, TBI. Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

What should financial advisor invoices include in Iraq?

Your invoice should include: Tax registration, Business license, Client details, Invoice number. For financial advisor services specifically, also include: Financial planning, Investment advisory, Retirement planning.

How should financial advisors structure fees?

AUM percentage (0.5-1.5%), flat retainer, hourly, or project-based. Disclose fee structure clearly.

What compliance info should be on invoices?

Advisor registration (CFP, RIA), firm info, and fee disclosure language as required.

Is there VAT in Iraq?

No general VAT system. Sales tax only on luxury goods at high rates. Most transactions not subject to sales tax.