Caretaker Minister of Finance Youssef el-Khalil issued a decision on Friday clarifying the tax treatment of interest paid by taxpayers.
Accordingly, income taxpayers who pay interest must declare this interest quarterly and pay the tax due within 15 days of the end of each quarter, after deducting tax at the rate of 17% on 50% of this interest.
El-Khalil also issued rulings extending the payment deadlines for certain taxes to give taxpayers more time to pay and avoid late payment fines.
For example, the deadline for filing the declaration of income from foreign shares, debt securities, and various other foreign income from transferable securities for the years 2022 and 2023, which owners or beneficiaries residing in Lebanon must declare electronically using form "D4/C" under the provisions of Article 82 of the Income Tax Act, has been extended to May 31, 2024.
Accordingly, income taxpayers who pay interest must declare this interest quarterly and pay the tax due within 15 days of the end of each quarter, after deducting tax at the rate of 17% on 50% of this interest.
El-Khalil also issued rulings extending the payment deadlines for certain taxes to give taxpayers more time to pay and avoid late payment fines.
For example, the deadline for filing the declaration of income from foreign shares, debt securities, and various other foreign income from transferable securities for the years 2022 and 2023, which owners or beneficiaries residing in Lebanon must declare electronically using form "D4/C" under the provisions of Article 82 of the Income Tax Act, has been extended to May 31, 2024.
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