Minister of Finance in the caretaker government, Youssef Khalil, issued three decisions related to extending tax deadlines. The first decision states: "The deadline for submitting the annual income tax return for the year 2023 is extended until 30/08/2024, including for companies holding petroleum rights and operating petroleum rights companies, as well as the payment of the due tax. The deadline for submitting the economic rights holder declaration (form M18) and the annual tax return for the year 2023 concerning amounts subject to the tax stipulated in Articles 41 and 42 of the Income Tax Law is also extended."
In the second decision: "The deadline for submitting the second-quarter return for the year 2024 concerning amounts subject to the tax stipulated in Articles 41 and 42 of the Income Tax Law, applicable to income tax payers, public institutions, municipalities, municipal unions, public bodies and councils, and public funds (form J10), as well as the payment of the due tax, is also extended until 30/08/2024."
In the third decision: "The deadline for submitting the first and second-quarter data for the payroll tax for the year 2024 and its corresponding tax payment is extended until 30/08/2024."
These three decisions aim to provide an opportunity for taxpayers to comply with their obligations to avoid penalties.
#### Settlement of Penalties
In a related matter concerning the settlement of penalties, Minister Khalil issued a decision extending the conditions for settling verification and collection penalties imposed "in accordance with the provisions of tax laws based on self-assessment documents issued as of 16/11/2022. Interested parties can review the details of this decision, numbered 722/1 dated 11/7/2024, on the ministry's website: www.finance.gov.lb, on the ministry’s Facebook page: Lebanese Ministry of Finance, and on the X platform."
