Lebanon Businessnews News

37,000 new public transportation plates to circulate
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The Traffic and Vehicle Management Authority will circulate 15,000 public transport license plates for cars, 15,000 for mini buses, 6500 for trucks, and 500 for tank trucks.

The car plate costs LL40 million ($26,600). Those for mini busses and tank truckscost LL50 million ($33,300), and those for trucks cost LL55 million ($36,600), according to the budget law.

A joint decision of the Ministries of the Interior and Municipalities (MoIM) and Finance (MoF) will specify the necessary documents and the conditions required for obtaining the plate.

The MoIM will form a committee to study the applications. The committee will include representatives from the MoIM, MoF, Ministry of Tourism, and the Ministry of Public Works and Transport. It will also include representatives of the related syndicates.

The Traffic and Vehicle Management Authority with manage the transaction. Only Lebanese can buy these plates. The buyer should register the plate before the end of 2019, or within six months of the possible extension period.

The buyer should place the plate on a vehicle within a year of its registration; otherwise they will lose the plate with only 90 percent cash back.

Both cash and installment payments are permitted. A down payment of 25 percent of the cost should be submitted before the end of the year. The remaining amount will be divided into 12 quarterly payments with an interest rate of seven percent. If the owner fails to make a payment, an interest rate of 12 percent will be imposed on the remaining payments.

New vehicles that are imported before the end of 2019 and have the new public transportation plate placed on them within six months of its importation date, are exempt from 50 percent of the customs fees. The owner is obliged to pay the exempted fees if the plate is removed from the car within five years. In case of selling the vehicle and removing the plate after this period, the customs fees will be paid according to the market price.
Reported by Gisele Khalaf
Date Posted: Aug 02, 2019
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