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Delayed 2023 Budget imposes steep tax hikes amid economic turmoil in Lebanon
News Bulletin Reports
20-07-2023 | 11:06
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Delayed 2023 Budget imposes steep tax hikes amid economic turmoil in Lebanon
In an unprecedented move, the caretaker Lebanese government will finally begin reviewing the 2023 budget following Monday. This budget, characterized by an extraordinary focus on fees and taxes, has raised concerns among citizens and officials alike.
According to detailed nominal tables, numerous fees and taxes are set to skyrocket, increasing by as much as three to fifty times their previous amounts.
Additionally, unspecified fees have been given a vague clause (Article 43) that allows for a thirty-fold increase compared to their 2019 levels.
As the Ministry of Finance always relies on securing revenues from citizens' pockets rather than tax evaders, wrongdoers, and large companies that typically evade taxes, the Value Added Tax (VAT) constituted 25 percent of the total revenues, amounting to 36 billion Lebanese pounds.
Among the items targeted for tax hikes are:
- Carbonated beverages and energy drinks facing a 5,000 LBP fee per liter
- Wine is subjected to a 6,000 LBP fee per liter
- Tobacco products taxed at 7,500 LBP per pack and 5 million LBP annually for vendors, including e-cigarettes
- Shisha and tobacco taxed at 75,000 LBP per kilo
- Private electricity generators facing a 100,000 LBP fee per kVA
- Economy-class flight tickets are subject to a $35 fee, while business-class fares will bear a $50 charge and first-class tickets $65
- An additional 500,000 LBP for every land traveler
- A fee of 750,000 LBP for replacing private car plates and 2 million LBP for a private car or driver's license, while the fee for a motorcycle driving license will increase to one million Lebanese pounds.
The budget includes increased municipal fees, construction permits, financial stamp fees, and more.
In a harsh blow to citizens, primarily low-income individuals and public sector employees, the 2023 budget disqualifies post-2020 salary-related allowances (cost of living, social aid, exceptional compensations) from being included in the base salary, rendering end-of-service compensations worthless.
In the budget 2023, estimated expenses have increased by 4.45 percent compared to the 2022 budget. Upon closer examination, it becomes evident that the Ministry of Finance's expenses have multiplied by 19 times, the Presidency's expenses have increased by 15 times, and the Ministry of Public Works' expenses have risen by 9.9 times. Meanwhile, the expenses of the Ministry of Health have seen a more modest increase of 2.5 times.
The estimated expenses in the 2023 budget proposal amount to 181,923 billion Lebanese pounds, while the total revenues do not exceed 147,739 billion Lebanese pounds, resulting in a deficit rate of 18.79 percent.
However, the fundamental question remains whether the Ministry of Finance will be able to collect the projected revenues as stipulated in the budget or if, like previous attempts, it will fail, revealing that the deficit is much larger than anticipated.
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