The Ministry of Finance called today, Tuesday, in a statement issued by its media office, on taxpayers to "benefit from the provisions of Article 41 of the General Budget Law for the year 2024 and to initiate the declaration and payment of taxes due for the years 2023 and prior, within a maximum deadline of August 15, 2024, without any fines or collection fees. It is indicated that:
- Declarations regarding foreign capital revenue for the years 2018 and prior must be submitted through Liban Post on paper forms, and electronically for revenues from the years 2019 and onward.
- As for hidden taxpayers (those who have received foreign capital revenues and have not declared them, whether registered with the tax administration or not): they must declare and pay taxes on revenues obtained from the year 2015 and onward, with a fixed exchange rate of 1507.5 L.L. per U.S. dollar for revenues until 2020, and 27,400 L.L. per U.S. dollar for revenues in 2021. If these revenues are in a foreign currency other than the U.S. dollar, the currency should be converted to U.S. dollars based on the average exchange rate against the U.S. dollar, and then these revenues should be converted to Lebanese pounds as mentioned, with revenues for the years 2022 and onward to be declared in the same currency as per Decision No. 322/1 dated May 15, 2023.
- For taxpayers who have previously declared foreign capital revenues but have not declared those revenues in any subsequent year: they must declare and pay tax on any revenues obtained from the year 2017 and onward that have not been declared or taxed, observing the same fixed exchange rates as mentioned above.
- Taxes should be paid at branches of banks operating in Lebanon, either in cash or through the SWIFT bank transfer system, exclusively from external banking accounts (EXTERNAL ACCOUNTS FRESH).
