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.