85 percent cuts on overdue tax fines. Repayment by installment is allowed

Taxpayers can benefit from an 85-percent cut on fines imposed on unpaid taxes provided they settle the overdue taxes and the related reduced fines by the end of the current year, according to the 2019 budget law.

The cuts pertain to taxes imposed by the General Directorate of Finance and by other public departments and public institutions, as well as municipalities and other public bodies.

Overdue car registration fees (mecanique) also benefit from the fine deductions.

The b...

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Airport fees increase on business and first class travel. Fees down on long haul private jet trips

Fees for departing passengers using business and first class flights as well as private jet and yacht tickets have been increased, according to the approved budget law. The law will come into effect starting from August 1, 2019.

The distance criterion for the new fees become 900 kilometers (km), instead of 1,250, according to Mohamad Chehabeddine, Director of the Civil Aviation Authority.

For trips with a final destination of over 900 km from Beirut, fees have increased from LL50,...

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37,000 new public transportation plates to circulate.

The Traffic and Vehicle Management Authority will circulate 15,000 public transport license plates for cars, 15,000 for mini buses, 6500 for trucks, and 500 for tank trucks.

The car plate costs LL40 million ($26,600). Those for mini busses and tank truckscost LL50 million ($33,300), and those for trucks cost LL55 million ($36,600), according to the budget law.

A joint decision of the Ministries of the Interior and Municipalities (MoIM) and Finance (MoF) will specify the necessary ...

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Touch buys new premises in Beirut Central District for $75 million.

Touch, one of the two local mobile operators, has acquired its new premises located in Beirut Central District for $75 million, according the Media Office of the Minister of Telecommunications.

Touch, which is owned by the Lebanese state and operated by Kuwait-based mobile telecommunications company Zain, has signed two agreements with the owner of the building. The agreements involved revoking the existing rent contract and replacing it with a purchase deal.

The Media Office sai...

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Tourism’s contribution to GDP grew 11 percent last year.

The contribution of travel and tourism to GDP was $10.4 billion last year, representing 19 percent of the Gross Domestic Product (GDP), according to the World Travel and Tourism Council (WTTC).

The sector's contribution to GDP increased by 11 percent in 2018, compared to the preceding year.

Out of the total, $9.3 billion was generated from foreign visitors, according to the WTTC.

The total amount includes direct contributions represented by subsectors such as hotels, trave...

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