Decisions of the Minister of Finance.. and this is what was stated in them!

The Minister of Finance in the caretaker government, Yousef Al-Khalil, issued a decision specifying the tax treatment of the interest paid by income tax taxpayers.

The decision stated: Article Four of Resolution No. 824/1 dated 11/8/2023 (determining the tax treatment of interest paid by income tax taxpayers) is amended so that it becomes as follows:

​Income tax taxpayers who pay interest subject to the provisions of Articles 41 and 42 of the Income Tax Law must declare such interest quarterly and pay the tax due on it within a period of 15 days from the end of each quarter after they have deducted the tax from it at a rate of 17% on 50% of those benefits.

A rate of 17% applies to amounts due to non-residents starting 4/1/2024.

Hebron also issued two decisions extending the deadlines for declaring the income of foreign stocks and debt securities and the income of foreign movable capital that their owners must declare. The first decision stated:

The deadline for submitting a declaration on the income of foreign shares, debt securities, and various other foreign movable capital revenues for the year 2022, whose owners or those who enjoy the proceeds residing in Lebanon must declare them electronically according to Form “W4/C”, in accordance with the provisions of Article 82 of the Income Tax and Tax Payment Law.

Second: The deadline for submitting a declaration on the income of foreign shares, debt securities, and various other foreign movable capital revenues for the year 2023, whose owners or those who enjoy their proceeds residing in Lebanon must declare them electronically according to Form “W4/C.” “Pursuant to the provisions of Article 82 of the Income Tax Law.

The post Decisions of the Minister of Finance.. and this is what was stated in them! appeared first on LTN – Lebanon Today News.

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