Three new circulars issued by the Ministry of Finance stipulates the following to be implemented as of January 1, 2018:
- The registration with the VAT has become mandatory whenever the turnover exceeds LBP 100,000,000 for four consecutive quarters instead of LBP 150,000,000;
- Any corporation or organization, willing to import or export merchandises for at least once, becomes subject to the VAT law provisions;
- Any corporation or organization, willing to register voluntarily with the VAT, should realize a turnover exceeding LBP 50,000,000 instead of LBP 0, as previously.
The law no. 64 dated October 20, 2017 (official gazette no. 50 dated October 26, 2017) introduced several tax changes:
Value added tax (VAT): 11% instead of 10%, January 1, 2018.
Stamp duty on contracts: 0.4% instead of 0.3%.
Criminal record: LBP 4,000 instead of LBP 1,000.
Receipt indicating a discharge, receipt, settlement or deposit: LBP 250 instead of LBP 100.
Statement of account: LBP 250 instead of LBP 100.
Receipt or invoice confirming receipt of money or securities: LBP 250 instead of LBP 100.
Receipt issued by mobile or internet companies and prepaid cards: LBP 2,500.
Unsettled invoice: LBP 250 instead of LBP 100.
Other papers not subject to stamp duty: LBP 250 instead of LBP 100.
Production tax on cement (per ton): LBP 6,000.
Imported spirits (Beer): LBP 180/L instead of LBP 60/L.
Imported spirits (Arak): LBP 600/L instead of LBP 200/L.
Imported spirits (Whiskey): LBP 1,200/L instead of LBP 400/L.
Imported cigarette box: LBP 250.
Imported sisha tobacco: LBP 2,500/kg.
Imported cigar piece: 10% per cigar.
Entry fee for foreign travelers by land upon entry into Lebanon: LBP 5,000.
Traveler by air – Economy class: LBP 50,000.
Traveler by air – Business class: LBP 110,000 instead of LBP 70,000.
Traveler by air – First class: LBP 150,000 instead of LBP 100,000.
Traveler by private jets: LBP 400,000.
Imported container 20 Ft: LBP 80,000.
Imported container 40 Ft: LBP 120,000.
Income from movable capital: 7% instead 5%.
Lottery prizes > LBP 10,000: 20% instead of 10%.
Income tax on profit: 17% instead of 15%.
Real estate sale contracts: 2% instead of 0%.
Capital gains on FA disposal: 15% instead of 10%.