Iraq’s General Customs Authority has approved new mechanisms for calculating the customs value of imported goods.
The mechanisms will be applied across all customs centres and include the following measures:
- Adoption of the customs value stated in duly declared commercial invoices submitted under the advance declaration system, supported by bank transfers, at the time of customs clearance.
- Use of customs values recorded in the General Commission for Customs’ records for goods not declared under the advance declaration system and without bank transfers.
- Acceptance of requests to determine or amend customs values recorded in official customs records by the valuation department, provided these are supported by formal documentary evidence. Decisions must be issued within three working days in accordance with applicable customs law and relevant international agreements and rules.
- Assignment of Iraqi banks, under the supervision of the Central Bank of Iraq (CBI), to verify the accuracy of data contained in commercial invoices submitted for foreign transfers, including declared values.
The Commission stated that the new mechanisms aim to enhance transparency, regulate customs procedures, protect public funds and support a stable trading environment, in line with the government’s financial and economic reform agenda.
It added that the decision was made in line with the amended Customs Law No. 23 of 1984 and Cabinet Decision No. 569 of 2025, and in accordance with internationally recognised standards.
