Importers shall deposit funds for external transfers for import purposes with licensed banks, and funds shall not be transferred until the importer has paid the estimated customs duties and tax deposits through the ASYCUDA system and the approved electronic payment mechanisms, with the amounts transferred to the Public Treasury accounts and the designated accounts of the Ministry of Finance within 15 days. The estimated customs duties and tax deposits shall be calculated on the basis of the preliminary information submitted by the importer, including the commercial invoice and shipping or import documents, customs classification, type and origin of the goods, and their value in accordance with the approved customs tariff schedules. As part of the government’s administrative and financial reform efforts, the Council of Ministers voted to amend the Instructions Regulating Write-off Procedures and Accounting Treatments, requiring all government entities to submit write-off records for debts and assets to the Federal Board of Supreme Audit for review before a write-off decision is taken by the authorized entity. The Ministry of Finance shall amend the Instructions Regulating Write-off Procedures and Accounting Treatments No. 1 of 2022 to incorporate the aforementioned amendment. The Council of Ministers approved the provision of IQD 15 billion in funding by the Ministry of Transport, through the Air Navigation Company, to the Ministry of Finance, to be allocated to the border crossings for the development of infrastructure at the Rabiah, Al-Waleed, and Safwan border crossings. The Council of Ministers approved the recommendation to suspend the implementation of Council of Ministers Resolution No. 963 of 2025 until the end of 2026, with the domestic market to be monitored throughout the suspension period. The Council of Ministers also voted to approve extending the Independent High Electoral Commission’s occupancy of school buildings until December 31, 2027, provided that the Commission submits a phased plan setting out timelines for vacating the occupied classrooms and school buildings. As part of the government’s measures to strengthen international relations, the Minister of Trade, or his authorized representative, was authorized to negotiate and sign the draft Agreement on Economic, Commercial, Scientific, Cultural, Technical, and Sports Cooperation between Iraq and the Republic of Nigeria and the Republic of Zambia. ••••• Media Office of the Prime Minister August 18, 2026