News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
28
o
Bekaa
23
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
24
o
North
28
o
South
28
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Al Assi (Al Bayt Al Abyad)
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
28
o
Bekaa
23
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
24
o
North
28
o
South
28
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Banking crisis continues: New tax rules for loan repayments
News Bulletin Reports
2024-07-15 | 13:15
High views
Share
Share
2
min
Banking crisis continues: New tax rules for loan repayments
Report by Bassam Abou Zeid, English adaptation by Yasmine Jaroudi
In October 2019, as Lebanon faced a banking collapse, the total amount of loans issued by banks stood at $38 billion, sourced from depositors' funds.
According to the Association of Banks in Lebanon (ABL), $32 billion of these loans have been repaid in Lebanese lira or via checks, known as "lollars," which do not reflect their original value.
The Finance Ministry has stated that individuals and entities who repaid dollar-denominated loans in currencies other than fresh dollars are expected to pay taxes to prevent tax evasion.
However, housing loans are exempt from this requirement.
For instance, a company that borrowed $1 million before the crisis and repaid it during the crisis with checks worth 20% of their original value essentially settled the debt with the equivalent of $200,000. This means the company saved $800,000 and is now expected to pay taxes on this amount.
ABL indicated that it currently lacks detailed statistics on the beneficiaries of these repayments and the total amount saved. They noted that the Finance Ministry will not receive the necessary information until the issuance of implementing decrees for the tax procedures law.
Lebanon News
Lebanon Economy
News Bulletin Reports
Banking
Crisis
Tax
Rules
Loan
Repayments
Next
Attempted Trump assassination: Safety concerns heightened as FBI investigates shooter's motives
Impact of the Mawasi Massacre on Israeli-Hamas Hostage Exchange Negotiations
Previous
Related Articles
d-none hideMe
0
News Bulletin Reports
2024-04-30
Bank Employees' Critique of Government's Banking Plan Amid Lebanon's Financial Crisis
News Bulletin Reports
2024-04-30
Bank Employees' Critique of Government's Banking Plan Amid Lebanon's Financial Crisis
0
Variety and Tech
2024-07-12
X 'deceives' users with blue checks, breaking digital rules: EU
Variety and Tech
2024-07-12
X 'deceives' users with blue checks, breaking digital rules: EU
0
News Bulletin Reports
2024-07-11
Iraqi Aid Eases Lebanon’s Energy Crisis Amid Internal Disputes
News Bulletin Reports
2024-07-11
Iraqi Aid Eases Lebanon’s Energy Crisis Amid Internal Disputes
0
News Bulletin Reports
2024-07-10
Lebanon Faces Power Crisis Amid Fuel Shortage
News Bulletin Reports
2024-07-10
Lebanon Faces Power Crisis Amid Fuel Shortage
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:05
Health alert: Lebanon monitors FLiRTLB1 variant as symptoms spread
News Bulletin Reports
13:05
Health alert: Lebanon monitors FLiRTLB1 variant as symptoms spread
0
News Bulletin Reports
12:56
Israel on high alert after Al-Mawasi operation as Netanyahu exploits Trump's assassination attempt in political maneuvering
News Bulletin Reports
12:56
Israel on high alert after Al-Mawasi operation as Netanyahu exploits Trump's assassination attempt in political maneuvering
0
News Bulletin Reports
12:55
Trump's resurgence: How is the world preparing for a possible second term?
News Bulletin Reports
12:55
Trump's resurgence: How is the world preparing for a possible second term?
0
News Bulletin Reports
12:50
Attempted Trump assassination: Safety concerns heightened as FBI investigates shooter's motives
News Bulletin Reports
12:50
Attempted Trump assassination: Safety concerns heightened as FBI investigates shooter's motives
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
2024-06-15
Upcoming US envoy visit: Will Israel's decisions and actions lead to its defeat?
News Bulletin Reports
2024-06-15
Upcoming US envoy visit: Will Israel's decisions and actions lead to its defeat?
0
World News
2024-07-11
British Government: Starmer and Biden discussed situation in Israel, Gaza, and Ukraine
World News
2024-07-11
British Government: Starmer and Biden discussed situation in Israel, Gaza, and Ukraine
0
Israel-Gaza War Updates
2024-05-24
Hamas welcomes ICJ decision for a ceasefire
Israel-Gaza War Updates
2024-05-24
Hamas welcomes ICJ decision for a ceasefire
0
Lebanon News
10:44
Car targeted near Lebanese-Syrian border after recent fatal strikes
Lebanon News
10:44
Car targeted near Lebanese-Syrian border after recent fatal strikes
Videos
d-none hideMe
0
Lebanon News
2024-07-11
Hezbollah's Ibrahim Moussawi to CNN: Regional powers do not seek full-scale conflict
Lebanon News
2024-07-11
Hezbollah's Ibrahim Moussawi to CNN: Regional powers do not seek full-scale conflict
0
Lebanon News
2024-07-09
Hezbollah’s "Hudhud" shows new footage of Israeli sites
Lebanon News
2024-07-09
Hezbollah’s "Hudhud" shows new footage of Israeli sites
0
Lebanon News
2024-06-18
Hezbollah scouts areas in northern Israel: What the hoopoe came back with (Video)
Lebanon News
2024-06-18
Hezbollah scouts areas in northern Israel: What the hoopoe came back with (Video)
0
Lebanon News
2024-06-12
Over 100 rockets launched from southern Lebanon toward northern Israel (Video)
Lebanon News
2024-06-12
Over 100 rockets launched from southern Lebanon toward northern Israel (Video)
0
Lebanon News
2024-06-10
Video shows Israeli drone downing in Iqlim al-Tuffah, South Lebanon
Lebanon News
2024-06-10
Video shows Israeli drone downing in Iqlim al-Tuffah, South Lebanon
0
Middle East News
2024-05-21
Funeral ceremony of the Iranian president begins in Tabriz (Video)
Middle East News
2024-05-21
Funeral ceremony of the Iranian president begins in Tabriz (Video)
0
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
0
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Middle East News
12:09
Prominent businessman tied to Syrian regime, Baraa Qatirji, killed in Israeli strike near Lebanon-Syria border: Here’s what you need to know about him
Middle East News
12:09
Prominent businessman tied to Syrian regime, Baraa Qatirji, killed in Israeli strike near Lebanon-Syria border: Here’s what you need to know about him
2
Lebanon News
07:00
Beirut Airport receives approximately 14,000 passengers daily, strong summer tourism season ahead
Lebanon News
07:00
Beirut Airport receives approximately 14,000 passengers daily, strong summer tourism season ahead
3
Lebanon News
04:33
Israeli warplanes break sound barrier over Sidon, Tyre, and Al Zahrani
Lebanon News
04:33
Israeli warplanes break sound barrier over Sidon, Tyre, and Al Zahrani
4
Lebanon News
05:26
Fire near Beirut Port caused by waste
Lebanon News
05:26
Fire near Beirut Port caused by waste
5
Lebanon News
10:30
Germany arrests suspected Hezbollah member: Prosecutor
Lebanon News
10:30
Germany arrests suspected Hezbollah member: Prosecutor
6
Lebanon News
14:26
Breaking: Israeli strike kills three family members in Bint Jbeil, southern Lebanon
Lebanon News
14:26
Breaking: Israeli strike kills three family members in Bint Jbeil, southern Lebanon
7
Lebanon News
10:44
Car targeted near Lebanese-Syrian border after recent fatal strikes
Lebanon News
10:44
Car targeted near Lebanese-Syrian border after recent fatal strikes
8
News Bulletin Reports
13:05
Health alert: Lebanon monitors FLiRTLB1 variant as symptoms spread
News Bulletin Reports
13:05
Health alert: Lebanon monitors FLiRTLB1 variant as symptoms spread
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More