Chammas Warns of New 'Big' Taxes Ahead

W460

Nicolas Chammas, president of the Beirut Traders Association and general secretary of the Lebanese Economic Organization warned of a new batch of taxes prepared "in secret" that could aggravate the economic burden on the private sector and affect the whole Lebanese, al-Joumhouria daily reported on Monday.

“A large bunch of new taxes is being secretly prepared,” Chammas told the daily, noting that the private sector plans to retaliate against government practices of “liquidation” of the private sector.

He raised fears that the 2020 state budget could include new taxes that will affect the whole Lebanese.

Chammas called on the government to adopt economic realism in its approach to the crisis. He said: “Providing the dollar to the basic sectors like fuel, flour and medicine is required, but it is not a solution but a crisis management, or mitigating the reality of the crisis and providing a minimum of social security."

Chammas said the economic situation is not reassuring, stressing that the crisis is in fact a “financial” one.

He said the budget deficit, and the “swelling” in the public sector leads Lebanon to bankruptcy.

On the wage scale, he said Lebanon made a “historic sin” against the Lebanese treasury and society through what he said was a “random” salary scale approved in the wrong place and time with incorrect estimate of its outcome.

However, Chammas noted that solutions still exist through “political consensus focusing on the priorities mainly addressing the massive budget deficit.”

SourceNaharnet
Comments 4
Thumb thepatriot 07 October 2019, 10:20

They can put up all the taxes they want. The people cannot afford to pay them...
Failed state!

Thumb thepatriot 08 October 2019, 12:03

Yeah right! Tax cigarettes and they will smuggle them, and Mafias will make more money out of this!
Raising the price of fuel when you have no public transportation is crazy! Sorry. All bad ideas...
The state is failed and corrupted to the bone. They have to start by cleaning up the administrations from all the corrupted thugs, and the useless employees paid to do nothing! They need to privatise. They need to prioritize our infrastructures. So many things to do that will never happen. This generation is burned. Lebanon is doomed for now. Sorry, but there is no hope.

Thumb lebanon_first 07 October 2019, 16:34

Puppet!!! I know Nic Chammas. And he is right. Big secret tax hikes. They are marinating the people with the leb pound wobbling and will grill us with the 15% tva.

But they dont have a choice... better this than fmi!!!

Missing rabiosa 07 October 2019, 17:02

It's obvious they will not do the necessary reform required by CEDRE. This I hope they do not get a single penny. Let it collapse as it's the only way to restart fresh from the grounds up.

You cannot tax your way out of the economic and financial problems. Ok tax the private sector, the private sector closes it's business and withdraws al it's capital and leaves the country, so where you gonna get your taxes from then.