Minister of Finance in the caretaker government, Dr. Youssef Khaleel, sent a letter to the "Oil Importing Companies" regarding the payment of part of the taxes and fees collected by the Public Finance Directorate from fuel importers in cash, including the value-added tax related to the quarterly declarations submitted by these taxpayers subject to this tax.
The letter stated: "Since the value-added tax due from the final consumer regarding taxed fuels is collected in cash, and in continuation of the measures taken to improve liquidity management to enhance financial and monetary stability, it has been decided as follows:
First: All taxes and fees collected by the Public Finance Directorate from fuel importers are to be collected as follows:
- 75% in cash in Lebanese pounds (minimum).
- 25% by check or bank transfer in Lebanese pounds (maximum).
Second: The concerned taxpayers must continue to pay the fees and taxes, including the value-added tax, through their banks without any change to the currently adopted mechanisms, except for depositing 75% of the taxes and fees due in cash at their banks. Banks, in turn, are to deposit the cash portion into the treasury account in Lebanese pounds (account number 700361115) at the Central Bank in cash, and electronically transfer the remaining 25% to the treasury account at the Central Bank according to the currently adopted mechanism.
Third: This decision is effective starting March 7, 2023."