Insights

Minister of Finance has issued Decision no. 35/1 dated 28 January 2021 determining the mechanism allowing taxpayers to benefit from tax reductions on activities related to the protection of the environment.

NSSF Memo number 659 dated 1 February 2021 suspending all deadlines related to NSSF including submission, settlement of contributions and bills, etc.. from 14 January 2021 until the end of the full lockdown period.

Minister of Finance has issued Decision 419/1 related to the exemption of foreign donations and supports, granted to Lebanon to overcome the damages caused by the Beirut Port’s explosion, from all duties and Value Added Tax.

Law number 185 dated 19 August 2020 and published in the official gazette on 27 August 2020 has provided exemptions related to the following matters:

• Delay in interest and principal payment on subsidized bank loans;
• the heirs of the Lebanese people who died in the blast of Beirut Port from the inheritance tax; and
• the residential and non-residential buildings that were affected by the blast of Beirut Port from property tax and municipality tax for year 2020.

Also, this law has extended the following:

Sworn court auditor, Mr. Joe Sakr, has requested from the director of Inspection and Control department at the NSSF clarifications about:

• the exemption of special employee benefits from NSSF contributions; and
• the registration of the general manager or deputy general manager at the NSSF.

Attached you will find the requests and the answers from the NSSF.