Insights

The Minister of Finance has issued Decision No. 2034/1 dated 31 December 2018 related to the exemption of the Lebanese employees’ employment contracts from stamp duty.

The Ministry of Finance has set a new procedure to be followed by taxpayers who are willing to benefit from tax refund on transactions exempt from VAT. These new procedures are defined in Minister of Finance Decision No. 2013/1 dated 28 December 2018.

In connection with Minister of Finance Decision No. 2010/1 dated 27 December 2018, a special deduction of LBP 20 million will be granted to some taxpayers when declaring the built property tax on some housing units starting 1 January 2018.

There is no need to receive any prior approval from the Ministry of Finance to benefit from this deduction.

In connection with Minister of Finance Decision No. 31-1 and Decision No. 32-1 dated 15 January 2019, the deadline for filing the tax on salaries for the fourth quarter and the related tax settlement has been extended until 28 January 2019 and the deadline for filing the VAT for the fourth quarter and the related tax settlement has been extended until 31 January 2019.