Finance Committee Suspends 2% Tax on Imported Items

W460

The finance parliamentary committee on Monday suspended a draft state budget article pertaining to imposing a 2% tax on imported items.

“Article 63 has been suspended pending a new text that takes into consideration the suggestions of the MPs and the finance minister on excluding daily-use consumer goods,” committee head MP Ibrahim Kanaan said.

Finance Minister Ali Hassan Khalil reminded in remarks to MTV that that the tax is aimed at “lowering deficit and protecting national products.”

Hizbullah, the AMAL Movement and the Marada Movement had voiced reservations over the article when it was discussed in Cabinet.

SourceNaharnet
Comments 4
Thumb whyaskwhy 17 June 2019, 22:32

Kizb does not want Iranian products to be taxed as its one of the few things they are still getting from Iran with the current economic downturn the Islamic republic is facing. Al Khalil needs to come up with a tax on non confirming religions or free thought...

Missing un520 18 June 2019, 11:31

Another nail in the Cedre-coffin. Lebanon is simply not able to live up to the demands of the donors. Economic meltdown is a real possibility.

Thumb lebanon_first 18 June 2019, 16:26

Yep. Budget with no teeth. Tout le monde a gagné...

Missing rabiosa 18 June 2019, 16:50

Good. I hope they don't get a single penny from CEDRE. Not that they were going to spend it wisely. They have not implemented any meaningful reform. They have not cut the bureaucracy, they have not cut waste in government spending, there's no plan for privatization, etc... The only thing they did was tax here and tax there, increase tax rate on this item and that item. That's not reform, that's tax and spend.

It's time once and for all to declare officially that Lebanon is a failed state.