MoF reply on conditions for 75% tax exemption on export profits

Decision # 302/1

Please be informed that the Ministry of Finance (MoF) has issued on the 2nd April 2024 the decision # 302/1 in application of the article 18 of the 2024 Budget Law # 324, that defines the exchange rate to be applied for the conversion of the salaries paid in foreign currencies at 89,500 LBP/USD (current Sayrafa and parallel market rate) starting from the 1st April 2024.

For the period prior to this date (i.e. for the months of January to March 2024), the salaries paid in foreign currencies should be converted at the previous exchange rate of 15,000 LBP/USD set by the MoF decision # 3/1 dated 9th January 2023 (application decision of the article 35 of the 2022 Budget Law # 10).

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MoF reply on conditions for 75% tax exemption on export profits

MoF decision #174/1

Application of the article 39 of the 2022 Budget law related to the tax on the Capital gain (i.e. difference between the acquisition cost and the selling price) generated by individuals from the transfer of their shares in the following joint-stock (SAL) companies: (i) Companies whose sole or main object is to own lands or built properties, (ii) Companies whose main activity is trading real estate properties or real estate development and (iii) Companies with real estate properties exceeding 50% of their total fixed assets. The capital gain tax is equal to the transfer and registration fees on real estate properties (i.e. 3% for Lebanese and 5% for foreigners). Attached to this MoF decision are the tax declaration forms for this capital gain tax.

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MoF reply on conditions for 75% tax exemption on export profits

MoF decision #246/1

Extension of the deadline for the filling of the annual declaration forms (including the UBO M18 form) for the year 2023 for taxpayers subject to tax on a real profit basis (sole proprietorships, partnerships and institutions who are exempt from income tax and adopting the accrual basis of accounting) and the payment of the related tax as well as for submitting the annual non-resident tax (G5 form) due as per article 41 and 42 of the income tax law till the 30th April 2024 inclusive.

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