The Ministry of Finance (MoF), has issued the here below Instructions No. 1989/s1 dated 29/06/2020 published in the Official Gazette No. 28 dated 02/07/2020 relating to the possibility of exempting funds and property devolved by donation or by will to religious communities and to the legal persons belonging to said sects from the inheritance tax.
In fact, according to these Instructions, the competent departments in charge of the inheritance tax, and within the framework of the study of the funds and property devolved by will or by donation to a non-heir and in particular to charitable organizations and sports, cultural or artistic or charitable associations are required – in accordance with the provisions of article 16 of the Inheritance & Gift Tax law (Legislative-decree No 146 dated 12/6/1959 with its amendments) – to exempt any donation or will up to /100,000,000/LBP and ensure concomitantly that any amount exceeding this value after deduction is subject to the inheritance & Gift Tax according to the rate provided for to the third category (ascendants other than parents, brothers and sisters) of taxpayers subject to the inheritance tax provided for in the table annexed to the Decree Law No. 146/59. The result of this is that funds and property devolved by donation or by will to religious communities and to legal persons belonging to the latter are therefore liable to the tax in the conditions than those stipulated herein.