Sabounjian hears industrialists. Industry suffers income tax on exports in light of immense imports’ competition - Lebanon

Sabounjian hears industrialists
Industry suffers income tax on exports in light of immense imports’ competition
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July 15, 2011- The Minister of Industry, Vrej Sabounjian, met with a delegation of the Syndicate of Paper Industries and Packaging Companies owners, led by Fady Gemayel.

The delegation briefed the Minister on a number of setbacks hampering the paper industry, mainly pertaining to high energy costs, along with the massive import of paper and carton products. The delegation complained the income tax on exports and called for implementing trade agreements and banning the export of paper wastes, which are basic raw materials in domestic manufacture.

Separately, the Minister received a delegation of the North Metn industrialists gathering. The delegation briefed Sabounjian on the top demands of the industrial sector in North Metn region.

The industrialists called for exempting industrial exports from income tax, establishing a special fund for subsidizing fuel oil, and enhancing infrastructure in industrial zones. They called the Minister to consider allowing industrial zones to produce electricity to be used by factories within working hours, and circulated among households off-peak hours.
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Date Posted: Jul 15, 2011