Today, Thursday, Minister of Finance in the caretaker government, Yusuf Khalil, issued three decisions regarding the extension of tax deadlines. The first decision states: "The deadline for submitting the annual income tax declaration for the fiscal year 2023, which has its original deadline on 31/05/2024, is extended until 30/08/2024, including declarations from companies with petroleum rights and operating petroleum rights companies, as well as the payment of the due taxes and the deadline for submitting the economic rights holder statement (form M18) and the annual declaration for 2023 regarding amounts subject to taxes under articles 41 and 42 of the Income Tax Law."
The second decision states: "The deadline for submitting the declaration for the second quarter of 2024 regarding amounts subject to taxes under articles 41 and 42 of the Income Tax Law, applicable to income tax payers, public institutions, municipalities, municipal unions, bodies, councils, and all public funds (form J10) is extended until 30/08/2024, along with the payment of the due tax."
The third decision states: "The deadline for submitting the reports for the first and second quarters of the salary and wages tax for 2024 and the payment of the related tax is extended until 30/08/2024."
These three decisions aim to provide an opportunity for taxpayers to comply with their obligations to avoid penalties. In a related matter concerning the settlement of penalties, Minister Khalil also issued a decision extending the bases for settling verification and collection penalties imposed according to tax laws based on self-assessment documents issued since 16/11/2022. Interested parties can view the details of this decision, which bears the number 722/1 dated 11/7/2024, on the ministry's website: www.finance.gov.lb, as well as on the ministry's Facebook page: Lebanese Ministry of Finance, and on platform X.
