MoF decision #547-1 dated 5 June 2025-Extention of FY 2024 annual tax on salaries declaration (R5, R6, R7) till 29 Aug 2025

(NSSF) notification #740

The National Social Security Fund (NSSF) has issued a public notification #740 dated 1st February 2024 requesting to compute the salaries paid fully or partially in foreign currency at the highest official exchange rate defined by the Central Bank (currently the Sayrafa rate of 89,500 LBP/USD) starting from the 1st February 2024.

 We remind you that the Budget Law 2024, that has been voted on last Friday by the Parliament and which will probably be issued next Thursday in the Official Gazette, has requested to compute the salaries paid in foreign currency on the same basis starting from the beginning of the year 2024 (i.e. from 1st January 2024) at the market exchange rate defined by the Central Bank.

 We, therefore, advise you to declare the salaries paid fully or partially in foreign currency at the highest official exchange rate defined by the Central Bank starting from the beginning of the year 2024 to align your declarations to the NSSF with those made to the Ministry of Finance.

 

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MoF decision #547-1 dated 5 June 2025-Extention of FY 2024 annual tax on salaries declaration (R5, R6, R7) till 29 Aug 2025

Decree #12599

Decree #12599 dated 21st November 2023, published in the Official Gazette #49 on the 30th November 2023 (attached a scanned copy) has increased the value of the family allowances to a maximum of LBP 2,250,000 being LBP 600,000 for the spouse and LBP 330,000 for each child (up to maximum 5 children).

 This increase representing 10 times the previous family allowances amounts, will be in force, starting from the month that follows the publication date of this Decree defining the increase in the annual NSSF ceiling for the family allowances contributions (which has not been published yet)

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