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Lebanon’s tax revenue more than halved from 2019-2021, IMF says

Citing near-term tax measures, the IMF called on the government to broaden the VAT tax base.

Estimates suggest that — without raising the VAT rate — relatively moderate measures can yield extra revenue of 1 per cent of GDP, the report said.

Meanwhile, the IMF also recommended passing a new income tax law to replace the existing outdated one and fine-tuning the VAT by, among other things, removing the exemption on diesel, as medium-term measures to improve Lebanon’s tax revenue.

Source: thenationalnews.com

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