The Ministry of Finance (MoF) replied to the letter of the LACPA and the Lebanese Economic Organizations (LEO) requesting the Government approval on all tax penalties reductions in excess of LBP 5 Billion due to the devaluation of the LBP that makes this threshold very low (i.e. USD 55,866 at the current exchange rate of 89,500 LBP/USD) compared to the previous equivalent (i.e. USD 663,667 at the previous official rate).
MoF has replied that based on the MoF decision #336/1 dated 12th March 2025 (in application of the article 88 of the 2024 Budget Law #324), all taxpayers can benefit from a reduction on their tax penalties without limit amount (i.e. including those in excess of LBP 5 Billion) till 30th June 2025 for the self-assessed tax adjustments and till 30th September 2025 for the rest of the infringements that occurred before the 16th February 2024 (publication date of the2024 Budget Law #324).