Insights

Expo Magazine, in its June 2019 publication, has published an article about the workshop held in ESA and hosted by the Lebanese Association of Certified Public Accountants with the collaboration with the Special Investigation Commission in relation to “fighting corruption and money laundering/terrorism financing and tax evasion”

Kindly find attached Announcement No. 1637/S1 dated 2 July 2019 defining the information that an invoice should contain in order to make the taxpayer eligible to deduct or receive a refund of the VAT paid on the invoice

Kindly find attached Minister of Finance Decision No. 459/1 dated 2 July 2019 extending the Decision No.78/1 dated 15 February 2019 which provides reductions on tax penalties until 31 July 2019.

The above mentioned decisions cover the violation occurring until 6 November 2018 (inclusive).

Kindly find attached Minister of Finance Decision No. 78/1 dated 15 February 2019 which provides reductions on tax penalties until 30 June 2019. This decision cancels all previous decisions.

This decision covers violations occurring until 6 November 2018 (inclusive).

As per Article 5 of this Decision, proportional realization penalties are reduced by 85% while lump-sum realization penalties are reduced by 60%.

As per Article 7 of this Decision, late payment penalties are reduced by 75%.