LBCI

Reasons behind economic crisis in Lebanon

22-09-2012 | 13:39

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Reasons behind economic crisis in Lebanon

While seeking to secure the needed imports to cover its expenses through taxes and surcharges, the Lebanese Government misses out that taxes have another role, but the mentality followed in the taxing system focuses on indirect taxes such as gasoline, mobile services, and VAT.

The economics Dr. at the American University Jad Chaaban mentioned that taxes fulfill imbalances in the economy pointing out that if a sector earned more money than other sectors, taxes should be imposed on this sector to fund the affected sector.


Dr.Chaaban called for strengthening the work of direct taxes which are taxes on profits and salaries.


In a talk to LBCI Chaaban mentioned that 70% of Lebanese taxes are indirect and considered that the Lebanese government hasn't been able to change its taxing system in a way that suits the public interest.

To watch the full LBCI report, click on the VIDEO above

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