| 6 October 2022, Thursday |

VAT, customs dollar at 20,000 LBP in draft budget 2022

The draft budget shows that imports are expected to reach 10,000 billion LBP for this year, while the total revenues of the budget will not exceed 39,000 LBP, after adjusting the customs dollar, taxes, and fees on an exchange rate of 20,000 LBP against the dollar.

The Minister of Finance confirmed that there are no new taxes, but raising the exchange rate from 1,500 to 20,000 LBP for calculating fees and taxes would be much worse than imposing new taxes on the consumer.

To shed light on this subject, member of the Economic and Social Council, Adnan Rammal, joined us.

The process of selling diesel oil on the black- market during the frost wave provoked the ministers, as Minister of Energy and Water Walid Fayad said after the cabinet session ended.

He said: “We are witnessing several violations from diesel distributors, where commissions that exceed the approved price and reach the limits of 10 and 15 percent are imposed on citizens, and this constitutes a crime. The judiciary must prosecute these smuggling parties.”

The Minister of Economy and Trade Amin Salam indicated that there were many complaints against distributers monopolizing diesel, stressing the need to adhere to the prices of the Ministry of Energy.

Salam said that the ministry will prosecute violators who are exploiting the people’s tough conditions.

  • Sawt Beirut International