Author: citylog

Please be informed that the Ministry of Finance (MoF) has issued on the 2^nd April 2024 the decision # 302/1 in application of the article 18 of the 2024 Budget Law # 324, that defines the exchange rate to be applied for the conversion of the salaries paid in foreign currencies at 89,500 LBP/USD (current Sayrafa and parallel market rate) starting from the 1^st April 2024.

For the period prior to this date (i.e. for the months of January to March 2024), the salaries paid in foreign currencies should be converted at the previous exchange rate of 15,000 LBP/USD set by the MoF decision # 3/1 dated 9^th January 2023 (application decision of the article 35 of the 2022 Budget Law # 10).

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Sets the procedure to reconsider the decisions issued by the Value Added Tax (VAT) department against taxpayers for VAT infringements.

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Application of the article 39 of the 2022 Budget law related to the tax on the Capital gain (i.e. difference between the acquisition cost and the selling price) generated by individuals from the transfer of their shares in the following joint-stock (SAL) companies: (i) Companies whose sole or main object is to own lands or built properties, (ii) Companies whose main activity is trading real estate properties or real estate development and (iii) Companies with real estate properties exceeding 50% of their total fixed assets. The capital gain tax is equal to the transfer and registration fees on real estate properties (i.e. 3% for Lebanese and 5% for foreigners). Attached to this MoF decision are the tax declaration forms for this capital gain tax.

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Extension of the deadline for the filling of the annual declaration forms (including the UBO M18 form) for the year 2023 for taxpayers subject to tax on deemed profit basis and the payment of the related tax as well as for submitting the annual non-resident tax (G5 form) due as per article 41 and 42 of the income tax law till the 30^th April 2024 inclusive.

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Extension of the deadline for the filling of the annual declaration forms (including the UBO M18 form) for the year 2023 for taxpayers subject to tax on a real profit basis (sole proprietorships, partnerships and institutions who are exempt from income tax and adopting the accrual basis of accounting) and the payment of the related tax as well as for submitting the annual non-resident tax (G5 form) due as per article 41 and 42 of the income tax law till the 30^th April 2024 inclusive.

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MoF decision #219/1: Extension of the deadline for the built property tax filling of the year 2023 and the payment of the related due tax till the 30^th April 2024 (inclusive).

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MoF decision #218/1: Extension of the deadline for the annual tax on salaries declarations (R5,R6,R7) of the year 2022 and the payment of the related due tax till the 30^th April 2024 (inclusive).

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MoF decision #217/1: Extension of the deadline for the annual tax on salaries declarations (R5,R6,R7) of the year 2023 and the payment of the related due tax till the 30^th April 2024 (inclusive).

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The Ministry of Finance (MoF) has issued on the 22^nd March 2024 two Memos #590-1 and #591-1 setting in place the mechanism to declare and settle fiscal stamp duties till the 31^st December 2024 due to the shortage of sticker stamps in the market. Taxpayers should declare these fiscal stamps on paper forms (available here under) within 15 days following the month where these fiscal stamps were due through LibanPost and pay the related dues through commercial banks, money transfer companies, or LibanPost.

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We hereby remind you of the requirements set in the Ministry of Finance (MoF) decision # 293/1 dated 20 July 2020 in relation with the payment by your companies of services to residents of contracting states that Lebanon has a Double Tax Treaty with such as France, Cyprus or the UAE (list of the Double Tax Treaties signed by Lebanon attached).  

According to this MoF decision and in order to benefit from the provisions of Double Tax Treaties (DTT), Lebanese taxpayers contracting with parties residing in a country which Lebanon has concluded a DTT with, should submit to the tax authorities the following documents:

1)      A tax residency certificate from the other contracting state’s tax authorities for the contracting party;

2)      Commitment letter from the other party that it does not carry-on business in Lebanon in which the revenues arise, through a permanent establishment situated therein.

3)      A separate letter which should include the other party’s name and its country of residency, as well as the nature of relationship between the Company and this other party. Also, the letter should include the tax treatment the company is undergoing with respect to the amounts paid to that foreign party. The above-mentioned documents should be attached to the letter which should be sent to the tax authorities within 1 month from the date of establishing the relationship.

In case of subsequent change to the information presented above, another letter should be sent to the tax authorities to inform them about these changes before 31 January of the next year.

The tax treatment of contractual obligations with parties residing in a country which Lebanon has concluded a DTT may defer from a country to another according to the provisions of the DTT.

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