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Lebanon: finance minister to postpone enforcement of income tax

December 7, 2022 at 3:55 pm

A worker wearing protective gloves counts Lebanese pound banknotes in Beirut, Lebanon. [Francesca Volpi/Bloomberg/Getty Images]

The Lebanese parliament’s Finance and Budget Committee has heard a report from the Minister of Finance in the caretaker government, Youssef Al-Khalil, about recent decisions with regard to the exchange rate and salaries in the public and private sectors.

The chair of the committee, Representative Ibrahim Kanaan, said that its members agreed during the meeting to postpone the implementation of Resolutions 686 and 687 related to income tax on salaries, until the resolutions are reviewed and the interests of the Lebanese people can be taken into consideration.

Al-Khalil promised to reconsider the resolutions on the basis of adjusting the exchange rate calculated for the tax. Tax brackets up to 25 per cent have been adopted, confirmed the minister.

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