MOF Notification #898/1

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The MoF has also issued on the same date a public Notification #898/1 (attached a scanned copy) defining the exchange rates that should be used to convert the income from foreign movable assets into LBP for the past years. For the years until 2020, the previous official rate of 1,507.5 LBP/USD should be applied. For the year 2021, the effective parallel exchange rate of 27,400 LBP/USD should be applied. Whereas, starting from the year 2022 onward the tax on income from foreign movable assets should be paid in the same currency of the income generated from foreign movable assets according to the article 87 of the 2022 budget law #10 and the article 41 of the 2024 budget law #324.

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