Catégorie : Budget
Budget Law 2026 – Tax amendments
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The Budget Law 2026 (Law #40) was published in the Official Gazette appendix #7 dated 10th February 2026 (attached a scanned copy of the Chapter 3 of this Law) and included some major tax amendments. We have prepared our usual English summary of the main tax articles of the Chapter 3 of this Budget Law 2026 that we are sending you attached.
These are the main tax amendments of the Budget Law 2026:
– Tax penalties discounts (Article 15)
– Penalties on delay or failure to declare the Ultimate Beneficial Owner (Article 18)
– Increase in the food allowance granted to employees to LBP 300,000 per day (Article 26)
– Tax deposit on account of 1.5% of the value of import for non-compliant taxpayers (Article 27)
– Cap of USD 30,000 on the acceptable depreciation of passenger vehicles (Article 29)
– Cap of USD 30,000 on the acceptable VAT deductibility of passenger vehicles & VAT on utilities no longer deductible (Article 30)
– Extension of the deadline for the exceptional revaluation of inventory and fixed assets (Law #330) for 3 months from the Budget Law 2026 publication date (Article 40)
– Extension of the 3% fee on imported goods subject to VAT till 31 December 2030 (Article 42)
– VAT quarterly filing deadline changed from 20 days to one month following the end of each quarter (Article 51)
– Amendment of the article 93 of the Budget Law 2024 to increase the threshold of the 17% Sayrafa tax to USD 100,000 and exempt salaries (Article 52)
Constitutional Council decisions # 3/2024 and 4/2024
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Following the Constitutional Council decisions # 3/2024 and 4/2024 published in the Official Gazette on the 11th and 18th April 2024 respectively, that suspended the application of certain articles of the 2024 Budget Law #324 and amended others (you will find attached a summary of the suspended and amended articles extracted from the Constitutional Council decision # 3/2024). You can access the updated version of Daher and Partners English summary of the main tax articles of Chapter 3 of this Budget Law 2024.
قانون الموازنة لعام 2024
إليكم نسخة مبسطة من قانون الموازنة لعام 2024 باللغة الإنجليزية والعربية، صدر على شكل كتيب من قبل معهد العلوم المالية باسل فليحان، بالتعاون مع مديرية مراقبة الموازنة والنفقات في وزارة المالية، والمنظمات غير الحكومية حكيم ماليا. تم نشره بالشراكة مع اليونيسف، في إطار مشروع “تعزيز شفافية الموازنة والمساءلة والشمولية في لبنان”.
يشرح هذا الكتيب بطريقة سهلة ومبسطة الموازنة العامة 2024 كما أقرها مجلس النواب استنادا إلى الوثيقة والأرقام الصادرة عن وزارة المالية. وهي جزء من سلسلة التوعية المالية والضريبية التي تهدف إلى توعية المواطنين بحقوقهم وواجباتهم، وبالتالي تسهيل معاملاتهم الإدارية وتعزيز الشفافية والمواطنة المالية.
Tax Alert: Tax on salaries according to the Budget Law of the year 2024
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The Budget Law of the year 2024 was approved by the parliament last Friday 26th January 2024 with several tax amendments including the obligation (set in article 20 of the project of the Budget Law) to compute the salaries paid in foreign currency at the market exchange rate defined by the Central Bank (currently the Sayrafa rate of 89,500 LBP/USD).
These salaries are then subject to the tax on salaries (Chapter II) according to the new tax brackets that have been increased 60 times compared to their level before the financial crisis and the devaluation of the LBP (that was at 1,500 LBP/USD) after applying the adjusted family deductions (please refer to the articles 48 and 50 of the project of the Budget Law attached).
Starting from the 1st of January 2024, the family deductions for tax purposes applied on the deemed or actual profits of taxpayers will be as follows:
• LBP 450,000,000 for any individual taxpayer
+ LBP 225,000,000 for non-working spouse or husband
+ LBP 45,000,000 for each legitimate dependent child (up to 5 children maximum).
Salaries, wages, and pensions are subject to the following amended progressive tax brackets (tax rates unchanged) starting from the 1st of January 2024:
|
Annual net taxable income (in LBP) |
Tax % |
|
From 0 to 360,000,000 |
2% |
|
From 360,000,000 to 900,000,000 |
4% |
|
From 900,000,000 to 1,800,000,000 |
7% |
|
From 1,800,000,000 to 3,600,000,000 |
11% |
|
From 3,600,000,000 to 7,200,000,000 |
15% |
|
From 7,200,000,000 to 13,500,000,000 |
20% |
|
Above 13,500,000,000 |
25% |
ملاحظات أولية مبدئيــــة على البنود الضريبية القانونية الواردة في مشروعي قانون موازنة عام 2023 و2024
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The Budget Law 2022 (Law #10) was published in the Official Gazette appendix #49 dated 15 November 2022 and included some major tax amendments and discounts on penalties as well as a tax amnesty (article 21) as it was the case in the previous Budget Laws.
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