The Minister of Finance in the caretaker government, Youssef Khalil, issued a decision determining the tax treatment of interest paid by income tax payers. The decision states: "Article four of decision number 824/1 dated 11/8/2023 (determining the tax treatment of interest paid by income tax payers) is amended as follows: Income tax payers who pay interest subject to the provisions of articles 41 and 42 of the Income Tax Law must declare that interest quarterly and pay the due tax within 15 days from the end of each quarter, after having withheld tax at a rate of 17% on 50% of that interest. The 17% rate applies to amounts due to non-residents starting from 1/4/2024."
Additionally, Minister Khalil issued two decisions extending deadlines related to the declaration of foreign stock revenues, foreign bond revenues, and foreign movable capital revenues that must be declared by their owners. The first decision states: "The deadline for submitting the declaration of foreign stock revenues, foreign bond revenues, and various revenues from other foreign movable capital for the year 2022 is extended until 31/05/2024 inclusive, which must be declared electronically by owners or beneficiaries residing in Lebanon using form 'Th4/J' in accordance with article 82 of the Income Tax Law and payment of the tax."
In the second decision: "The deadline for submitting the declaration of foreign stock revenues, foreign bond revenues, and various revenues from other foreign movable capital for the year 2023 is extended until 31/05/2024 inclusive, which must be declared electronically by owners or beneficiaries residing in Lebanon using form 'Th4/J' in accordance with article 82 of the Income Tax Law."
For those wishing to find additional details, please return to the ministry's website www.finance.gov.lb.
