The Ministry of Finance has issued a reminder to individuals and legal entities who conducted dollar purchases via the 'Sayrafa' platform during 2021, 2022, and 2023. The reminder outlines the obligation to declare profits from these transactions and pay the due taxes, warning of potential prosecution in financial courts for non-compliance after the deadline.
The ministry clarified that this requirement is in accordance with Article 52 of the 2026 General Budget Law and its implementing resolution.
The tax applies to any person, individual or entity, whose total dollar purchases via 'Sayrafa' over the mentioned three years exceed $100,000 USD.
According to the ministry, profits from these transactions are subject to an exceptional additional tax of 17%, which does not apply to the total purchase value through the platform.
The deadline for declarations and tax payments is set to October 1, 2026, after a suspension of legal deadlines. The ministry urges all concerned parties to regularize their status before the deadline to avoid tax evasion charges.
The ministry warns that after the deadline, they will commence an auditing phase. The tax administration will review transaction information conducted through the 'Sayrafa' platform, based on data received from relevant entities.
Those identified as liable to the tax, yet failing to comply with the declaration and payment requirements, will be forwarded to the financial prosecutor according to legal procedures.
This move revisits the issue surrounding the 'Sayrafa' platform, introduced by the Lebanese Central Bank during the financial and monetary crisis as an official mechanism for foreign exchange transactions at prices set by the central bank. This occurred amidst a situation where Lebanon had multiple exchange rates for the Lebanese pound, including official, platform, and parallel market rates.
The platform was extensively used in 2021, 2022, and 2023 via banks and licensed institutions before operations ceased, although transactions made through it continue to be monitored for trading volumes and profits due to exchange rate differences.
The current initiative is based on the 2026 Budget Law, which subjects the defined profit conditions to an additional exceptional tax, thereby creating a tax framework to address profits from dollar purchases via the platform during those years.
Thus, October 1, 2026, is a critical date for those covered by the decision, marking a shift by the Ministry of Finance from offering voluntary settlement and declarations to auditing and enforcing legal penalties on violators.