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Tag Archives: Income

Keep this handy blog post saved and check it every month to make sure you don’t miss any filing deadlines

  • January 15 :
    • Income Tax on salaries Q4 of previous year
    • Income Tax on interest (part III) Q4 of previous year
  • January 20:
    • VAT return on Q4 previous year
  • January 31:
    • Payment of Alcohol permits for restaurants
    • Income Tax Returns for Taxpayers under lump sum scheme non-profit organization
  • February 28:
    • Filing of R6 and R7
    • Annual return of income tax on salaries R5
  • March 31:
    • Income tax returns for sole proprietorship and partnership under the real profit method
    • Progressive tax return on real estate
    • Annual declaration to social security
  • April 15:
    • Income tax on salaries Q1 of current year
    • Income tax on interest (part III) Q1 of current year
  • April 20:
    • VAT return Q1
  • April 30:
    • Personal Income Tax on salaries return R8
  • May 31:
    • Income Tax returns of capital companies
  • June 30:
    • Auditors report on partnership entities
  • July 15:
    • Income tax on salaries Q2
    • Income tax on interest (part III) Q2
  • July 20:
    • VAT return Q2
  • August 31:
    • Auditors report on corporation (SAL and SARL)
  • October 15:
    • Income Tax on salaries Q3
    • Income tax on interest (part III) Q3
  • October 20:
    • VAT returns Q3

Did you know?

  • January:
    • Registration at VAT becomes compulsory as soon as sales for 4 consecutive quarters exceed 150.000.000 LBP or 100.000$. The registration should be done within two months after the end of the quarter reaching 100,000$. As per Tax Procedure Law: If the submission/receipt deadline falls on an official holiday or Sunday, the deadline is automatically extended to the next working day.
  • February:
    • Year-end bonuses based on performance, not declared in Q4 can be declared within the annual return on 28/2 without any penalties if a decision is taken in a previous meetings minutes. The registration number of the Ministry of Finance should be mentioned on all invoices and receipts.
  • March:
    • Partners and directors of companies are not allowed to obtain loans from their companies; any loans outstanding may lead to an assessment by the Ministry of Finance. As per Tax Procedure Law: If the submission/receipt deadline falls on an official holiday or Sunday, the deadline is automatically extended to the next working day.
  • April:
    • Taxpayers earning salaries from more than 1 employer must prepare an individual tax return by 30/4. Dividends declared in annual general meetings are taxable at 10% and must be declared within one month of the decision date of the minute. As per Tax Procedure Law: If the submission/receipt deadline falls on an official holiday or Sunday, the deadline is automatically extended to the next working day.
  • May:
    • Payments to non-residents rendering services are subject to a 7.5% withholding tax and 2.25% when it involves goods acquired. As per Tax Procedure Law: If the submission/receipt deadline falls on an official holiday or Sunday, the deadline is automatically extended to the next working day.
  • June:
    • Any disposal of parts in an SARL or Partnership must be declared within two months on the agreement and a Tax 10% on the capital gain is due. The ministry of Finance reserves the right to assess the valuation of the parts disposed. Any amendments in the company‚Äôs bylaws should be reported within two months to the Ministry of Finance.
  • July:
    • Contracts are subject to 0.3% stamp duty by apposing fiscal stamps on the contract when the amount of the stamps exceeds 200,000 LBP. The payment must be done at the Ministry of Finance within 5 working days of the contract date. As per Tax Procedure Law: If the submission/receipt deadline falls on an official holiday or Sunday, the deadline is automatically extended to the next working day.
  • August:
    • Lebanon has signed a number of tax treaties with other countries as well as reciprocal investment protection agreements. To obtain a list, do not hesitate to contact us.
    • When a company or any taxpayer ceases work, it should report it to the Ministry of Finance within two months.
  • September:
    • Companies and individuals wishing to import goods into Lebanon must have a registration number at the income tax and a clearance from the social security in that sense. Goods exporters should be registered at the VAT.
  • October:
    • Payments to foreign companies for services rendered in Lebanon are subject to VAT to be declared by the Lebanese taxpayers whether registered or not at the VAT Department. As per Tax Procedure Law: If the submission/receipt deadline falls on an official holiday or Sunday, the deadline is automatically extended to the next working day.
  • November:
    • Interest on long terms loans by Holding companies to subsidiaries is exempt from taxation in the Holding and deductible at the level of the subsidiaries on condition that it abides by instruction #1366 dated 31/08/2007 by the Ministry of Finance.
  • December:
    • Interest on bonds issued is taxed at 5% and is payable on a monthly basis in the currency of the bond issued to the Ministry of Finance.
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