SAWT BEIRUT INTERNATIONAL

| 10 August 2022, Wednesday |

How will customs dollar affect on goods prices?

The business of many shops in Lebanon declined by 80% due to the economic crisis, threatening what was termed the customs dollar, which was approved in the budget pending the approval of Parliament, the remaining sales activity in their shops.

The business of many shops in Lebanon declined by 80% due to the economic crisis, threatening what was termed the customs dollar, which was approved in the budget, pending the approval of the Parliament on the remainder of the sale movement in their shops.

So everyone is waiting for the customs dollar to be approved, and there is great fear of the repercussions of its approval.

During the meeting, which was held yesterday in the Grand Serail, and was devoted to discussing the file of the public sector employees’ strike, the meeting agreed that the comprehensive solution would be through approving the budget, including tax increases, most notably the customs dollar, which provides additional financial revenues to the treasury that allows financing the wage increase for workers in the public sector. It was also agreed to pass draft laws through a basket of other imports that would also secure additional imports for the public treasury.

Caretaker Prime Minister Najib Mikati links any increase in public sector employees to the approval of the customs dollar. That is, paying customs taxes on all imported goods on the basis of a new dollar rate, not the official rate of 1515 as it is now determined.

Therefore, there is no work in state institutions except by raising taxes, which is the issuance of an exceptional decree to provide social assistance equivalent to a full salary as of July. It was also decided to pay the previously scheduled social assistance to public sector employees, and to give a daily transportation allowance of 95 thousand pounds per day to each employee, and linking the increase in transportation allowance and social assistance to attendance at work at least two days a week.

 

    Source:
  • Sawt Beirut International