VOL. XLIV
No 51
17-December-2001
LEBANON
LebanonsParliament Approves Introduction Of 10% VAT
Lebanons parliament on 5 Decemberapproved the introduction of a 10% value-added tax (VAT), which is scheduled totake effect on 1 February rather than the original target date of 1 January.Finance Minister Fuad Siniora said the tax will help ease the countrys budgetdeficit and crippling $26bn public debt (MEES, 12 November) and is expectedto generate some $500mn per annum. The minister described VAT as a...
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