Lebanon's stamp crisis is finally on the way to resolution.
On Friday, Caretaker Minister of Finance Youssef Khalil announced in a press release that his ministry had completed the preparatory procedures for the printing of thirty million stamps in denominations of twenty, one hundred, two hundred, and four hundred thousand Lebanese pounds, revealing that the ministry would be putting ten million stamps worth five thousand Lebanese pounds on the market next week.
He also pointed out that the Ministry has started installing tax stamp printing machines in several official centers.
As a reminder, it has become difficult to find tax stamps for official formalities, which has encouraged the black market. These stamps are sold secretly in local shops at prices well above their face value. Meanwhile, it's impossible to complete any administrative formalities without these famous little stamps, which the Ministry of Finance puts on the market on a very limited scale due to a lack of reserves, given that the last major printing of revenue stamps dates back to 2016.
On Friday, Caretaker Minister of Finance Youssef Khalil announced in a press release that his ministry had completed the preparatory procedures for the printing of thirty million stamps in denominations of twenty, one hundred, two hundred, and four hundred thousand Lebanese pounds, revealing that the ministry would be putting ten million stamps worth five thousand Lebanese pounds on the market next week.
He also pointed out that the Ministry has started installing tax stamp printing machines in several official centers.
As a reminder, it has become difficult to find tax stamps for official formalities, which has encouraged the black market. These stamps are sold secretly in local shops at prices well above their face value. Meanwhile, it's impossible to complete any administrative formalities without these famous little stamps, which the Ministry of Finance puts on the market on a very limited scale due to a lack of reserves, given that the last major printing of revenue stamps dates back to 2016.
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