Insights
The Lebanese Parliament has issued Law No. 108 dated 6 December 2018 suspending the settlement of the lump-sum tax for a period of three years. All taxpayers who already settled the tax will be eligible to receive a refund as per a law that will be issued by the Lebanese Minister of Finance within a period of one month of the Law date.
DownloadIn connection with Minister of Finance Decision No. 1633/1 dated 1 November 2018, the deadline for settling the lump sum tax for year 2018 has been extended until 31 December 2018 inclusive.
DownloadKindly find attached Minister of Finance Decision No. 1583/1 dated 30 October 2018 which provides reductions on tax penalties until 31 December 2018. This decision cancels all previous decisions.
This decision covers violations occurring until its publication date in the official gazette (inclusive).
As per Article 5 of this Decision, proportional realization penalties are reduced by 85% while lump-sum realization penalties are reduced by 60%.
As per Article 7 of this Decision, late payment penalties are reduced by 75%.
DownloadIn connection with Minister of Finance Publication No. 3361/S1 dated 9 October 2018, the VAT Directorate will not accept any deduction of refund of VAT on electricity, water and telephone expenses starting 1 January 2019 if the invoices are not in the name of the taxpayer or if they are still in the name of the previous owner.
DownloadLaw no.85 issued on 18 October 2018 amended articles 1 and 3 of the Legislative Decree no.46 (Offshore companies Law) published on 24 June 1983. The amendments affected the incorporation, the management and the employment in addition to a new paragraph allowing one single person to establish an Offshore Company and stating the related procedures.
