Quickhits
The Bremer legacy in Iraq seems secure. The new investment law in Iraq (expected soon) allows 100% foreign ownership of everything but the oil sector and "untaxed profit transfers."
Needlenose points to an almost identical Iraq troop withdrawal story from Aug 2005.
The AP has a sad story on Iraq War vets and homelessness.
Iraq oil production has increased. (Funny how almost none of the articles on this mentions that it's still well below prewar levels.)
Needlenose points to an almost identical Iraq troop withdrawal story from Aug 2005.
The AP has a sad story on Iraq War vets and homelessness.
Iraq oil production has increased. (Funny how almost none of the articles on this mentions that it's still well below prewar levels.)
posted by mikevotes at
12:43 PM
2 Comments:
Untaxed profit transfers? WTF does that mean?
By
Anonymous, at 1:49 PM
That means that I can take "profits" out of Iraq without the Iraqis being able to tax it. So, it's a measure to allow foreign companies unlimited transfers of money out of the country without any tax. Extremely unusual in any country.
So, in other words, the Iraqis generate their governmental income through oil sales, a percentage of that is paid to US companies, Halliburton, service or security contractors, water or phone companies, and then that money can be brought back to the US without paying any tax.
Mike
By
mikevotes, at 2:03 PM
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