ICT export program
is launched by IDAL
Business support unit
and tax incentive initiatives
The Investment Development Authority of Lebanon (IDAL) announced at Arabnet Beirut 2017 the launching of an ICT export program.
The program includes sponsorship of tech startups to enable them to attend international fairs. It also includes the launch of a marketing campaign to promote Lebanon as an ICT destination.
IDAL has also launched a ‘Business Support Unit.’ The Unit has three goals: To offer startups legal, auditing, and tax advice.
It also created a draft law whereby any startup can benefit from tax incentives. If the law is approved, startups will not pay any corporate tax for ten years. The draft law is pending approval from the Council of Ministers, before being ratified by Parliament.
Reported by Derek A Issacs
Date Posted: Feb 22, 2017