Finance Ministry reviews income tax draft

Lebanon is facing efforts to reform its tax system. A joint committee between the Prime Minister's Office and the Ministry of Finance held a meeting to review and rewrite the draft income tax law, with the goal of developing a modern and effective law that aligns with international standards. The reform aims to strike a balance between encouraging investment and providing sustainable revenues for the treasury, while also improving fairness in distribution and reducing tax evasion by reviewing tax exemptions and expanding the tax base. The process will include a detailed review of the provisions and involve labor unions and experts in a participatory manner to ensure a balanced and enforceable law, with a focus on transparency and accountability standards.

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