Taxes increases in numbers

During the cabinet's session last Tuesday, the ministers agreed on increasing several taxes to insure revenues to cover the budget deficit and finance the rank and salaries scale project.

The expected increases are as follows:
·         VAT increases by 2% (12% instead of 10%)
·         Banking interests increase by 2% (7% instead of 5%)
·         15% Tax on the real-estate profits for all properties registered before 1/1/2009,
          and 4% on the properties registered before that date.
·         15%  on the lottery prize
·         Increase in the stamps' prices
·         Fine on maritime properties
·         1000 LBP increase on phone and mobile bills      

The 2013 budget's expenses reached LBP 23000 Billion (LBP 1700 Billion more than this year's budget). The cabinet justified the increase by relating it to the financing of the rank and salaries scale project.        

The suggested taxes will also cover a part of the budget's deficit by 9%.

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