Lebanon Businessnews News
 

No mercy for “non-paying” taxpayers
Economic bodies urge State to create proper environment for businesses to survive
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The Ministry of Finance decided to stop all settlements it has been offering to institutions which fail to pay their taxes on time.

Starting January 2012, the Ministry will stop all settlements on penalties imposed on taxpayers who violate the tax procedures, said a statement issued by Minister of Finance Mohammad Safadi. “The reduction of fines on delayed tax payments has encouraged some taxpayers to skip their dues,” the statement said.

The ministry called all taxpayers who have pending dues to fix their accounts before September 30. It also said that it will no longer reduce penalties on violations committed after August 1st.

The vice-president of the Association of Lebanese Industrialists, Ziad Bekdache, said that the State should find a fair solution to the tax issue, taking into regard the dire conditions of the market.

“It is not possible to equalize those who pay their taxes with those who don’t, however, most industrialists and merchants, including some reputable firms, are having problems with cash flow,” said Bekdache.

Bekdache said that the State should create an apt climate that would enable businesses to grow. Once this is done, he said, the government would act to urge all industrialists and traders to pay their dues.

Bekdache said that the private economic bodies will hold a meeting with state officials after the Fitr holiday so as to discuss the government’s decisions.
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Date Posted: Aug 17, 2011