Tax duplication or double taxation is the fact of imposing two taxes at the same time on the same economic or financial activity.
For the banks, they are subject to a double taxation since they pay a 5% tax on the interests and 15% tax on the profits, costing them an amount of USD 250 million per year.
In Lebanon, this process has also another side. The goods imported into Lebanon are subject to the customs taxes and the Value Added Tax.
However, when the VAT was imposed everywhere else in the world, one of the main conditions was to cancel the customs fees.
For more details, watch the full report in the video above