Monday, February 6, 2017

Tax collection half its economic potential. IMF suggests myriad of additional and increased taxes


Tax collection is weak. It has been driving a drop in public revenues since 2010, and remains below the regional average, according to the International Monetary Fund's recent report, 'Article IV consultation for Lebanon.' It said that tax collection is only 50 percent of estimated capacity.

A weakness in electronic tax declaration system and staff numbers, among others, was cited as reasons behind the deficiency in total tax revenues.

"Tax administration increased by 120 staff me...

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