Post by account_disabled on Mar 14, 2024 5:18:36 GMT
Yaxes in Lebanon Income tax Income tax in Lebanon is imposed on individuals and companies on the basis of the income they generate from various sources. It is divided into three main types income tax on salaries and wages income tax on movable capital revenues and income tax on profits from professions and businesses. These taxes are calculated at variable rates depending on Type of income and source. . Value Added Tax VAT It is a consumer tax imposed on goods and services sold and provided in the country. This tax aims to collect revenues from consumption and transfer them to finance public services and government projects and its rate is . . Customs duties These are fees imposed on imported goods that enter the country.
These fees are considered part of trade policy and are used to achieve goals such as protecting local industries and encouraging fair trade. What goods and services are exempt from VAT Some goods and services are BTC Database ES exempt from VAT due to social and economic reasons The medical section. Educational sector. Insurance and banking sector. Betting activities. Non profit associations. Selling built properties and renting residential properties. Mass transportation of people. Delivering gold to the central bank. Farmers when delivering their agricultural crops in their natural state.
Some basic goods are also exempt from VAT such as medicines bread flour sugar and books. Taxes in Lebanon Registration for VAT Mandatory registration Taxable persons are required to compulsorily register themselves for VAT if their business revenues for four consecutive periods exceed an amount of more than million LBP. The registration application must be submitted within a period of two months starting from the last day of the period in which the conditions for being subject to tax are met. Read more about Electronic payment in Lebanon Optional registration Any taxable person whose business revenues do not exceed the minimum registration threshold has the right to request.
These fees are considered part of trade policy and are used to achieve goals such as protecting local industries and encouraging fair trade. What goods and services are exempt from VAT Some goods and services are BTC Database ES exempt from VAT due to social and economic reasons The medical section. Educational sector. Insurance and banking sector. Betting activities. Non profit associations. Selling built properties and renting residential properties. Mass transportation of people. Delivering gold to the central bank. Farmers when delivering their agricultural crops in their natural state.
Some basic goods are also exempt from VAT such as medicines bread flour sugar and books. Taxes in Lebanon Registration for VAT Mandatory registration Taxable persons are required to compulsorily register themselves for VAT if their business revenues for four consecutive periods exceed an amount of more than million LBP. The registration application must be submitted within a period of two months starting from the last day of the period in which the conditions for being subject to tax are met. Read more about Electronic payment in Lebanon Optional registration Any taxable person whose business revenues do not exceed the minimum registration threshold has the right to request.