VOL. XLIV

No. 25

18-June-2001

LEBANON

Lebanese Cabinet Approves Draft Law To Introduce 10% VAT

The Lebanese Government on 7 June approved a draft law to introduce value added tax (VAT) on goods and services at 10%, with a target date for implementation of 1 January 2002. The draft law, which must still be approved by parliament, is expected to make up some of the national revenue lost when the newly-elected government of Rafiq al-Hariri slashed import tariffs in late 2000. The government has...