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
20
o
Bekaa
11
o
Keserwan
21
o
Metn
21
o
Mount Lebanon
14
o
North
20
o
South
19
o
Live
Video
Audio
Schedule
shows
العربية
watching now
News
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
20
o
Bekaa
11
o
Keserwan
21
o
Metn
21
o
Mount Lebanon
14
o
North
20
o
South
19
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 | 12:15
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
Lebanon News
2024-11-01
Lebanon’s Nasser Yassin meets UN human rights chief to discuss humanitarian crisis, Israeli violations
Lebanon News
2024-11-01
Lebanon’s Nasser Yassin meets UN human rights chief to discuss humanitarian crisis, Israeli violations
0
Israel-Gaza War Updates
2024-10-31
France, Germany, and UK call for renewal of banking correspondence services between Israel and Palestinian territories
Israel-Gaza War Updates
2024-10-31
France, Germany, and UK call for renewal of banking correspondence services between Israel and Palestinian territories
0
Lebanon News
2024-10-30
Lebanon faces 11,579 attacks: Emergency report outlines rising death toll as displacement crisis worsens
Lebanon News
2024-10-30
Lebanon faces 11,579 attacks: Emergency report outlines rising death toll as displacement crisis worsens
0
Lebanon News
2024-10-29
Lebanon's Emergency Committee issues 31st report on Israeli attacks, casualties and humanitarian crisis
Lebanon News
2024-10-29
Lebanon's Emergency Committee issues 31st report on Israeli attacks, casualties and humanitarian crisis
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:23
Lebanon's stance: Ceasefire a must before discussing Resolution 1701
News Bulletin Reports
13:23
Lebanon's stance: Ceasefire a must before discussing Resolution 1701
0
News Bulletin Reports
13:00
Israeli commando operations in Lebanon: A history of infiltration and abduction missions
News Bulletin Reports
13:00
Israeli commando operations in Lebanon: A history of infiltration and abduction missions
0
News Bulletin Reports
12:55
South Lebanon in ruins: Israel's buffer zone strategy leaves villages uninhabitable
News Bulletin Reports
12:55
South Lebanon in ruins: Israel's buffer zone strategy leaves villages uninhabitable
0
News Bulletin Reports
12:53
Israel bolsters defenses, anticipating Iranian response amid persistent drone threats from Lebanon
News Bulletin Reports
12:53
Israel bolsters defenses, anticipating Iranian response amid persistent drone threats from Lebanon
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
12:55
South Lebanon in ruins: Israel's buffer zone strategy leaves villages uninhabitable
News Bulletin Reports
12:55
South Lebanon in ruins: Israel's buffer zone strategy leaves villages uninhabitable
0
Lebanon News
07:42
Israeli army destroys residential neighborhoods in Meiss El Jabal, South Lebanon (Video)
Lebanon News
07:42
Israeli army destroys residential neighborhoods in Meiss El Jabal, South Lebanon (Video)
0
News Bulletin Reports
2024-08-02
Diplomatic efforts intensify: Mikati appeals for peace as Hezbollah gears up for retaliation
News Bulletin Reports
2024-08-02
Diplomatic efforts intensify: Mikati appeals for peace as Hezbollah gears up for retaliation
0
World News
2024-09-30
EU's Borrell: Further Israeli intervention in Lebanon must be 'avoided'
World News
2024-09-30
EU's Borrell: Further Israeli intervention in Lebanon must be 'avoided'
Videos
d-none hideMe
0
Lebanon News
2024-11-03
Hezbollah reveals border attack on Israeli forces, releases video footage
Lebanon News
2024-11-03
Hezbollah reveals border attack on Israeli forces, releases video footage
0
Lebanon News
2024-11-03
'We Will Not Leave the Battlefield': Hezbollah unveils video on 'Imad 5' facility
Lebanon News
2024-11-03
'We Will Not Leave the Battlefield': Hezbollah unveils video on 'Imad 5' facility
0
Lebanon News
2024-11-03
LBCI captures aftermath of Israeli airstrikes in Ali El-Nahri, Zahle District
Lebanon News
2024-11-03
LBCI captures aftermath of Israeli airstrikes in Ali El-Nahri, Zahle District
0
Lebanon News
2024-11-02
LBCI captures extensive damage from Israeli airstrikes on Hay El Bayad, Nabatieh in South Lebanon
Lebanon News
2024-11-02
LBCI captures extensive damage from Israeli airstrikes on Hay El Bayad, Nabatieh in South Lebanon
0
Lebanon News
2024-11-02
Four Lebanese security sources confirm to LBCI the abduction of an individual identified as "I.A." in Batroun, abductors likely to be Israeli forces
Lebanon News
2024-11-02
Four Lebanese security sources confirm to LBCI the abduction of an individual identified as "I.A." in Batroun, abductors likely to be Israeli forces
0
Lebanon News
2024-10-31
Miss Lebanon Nada Koussa heads to Mexico after receiving an apology from Miss Universe Organization
Lebanon News
2024-10-31
Miss Lebanon Nada Koussa heads to Mexico after receiving an apology from Miss Universe Organization
0
Lebanon News
2024-10-31
Israeli airstrikes target civil defense and Islamic Health Organization in Tyre (Video)
Lebanon News
2024-10-31
Israeli airstrikes target civil defense and Islamic Health Organization in Tyre (Video)
0
Lebanon News
2024-10-30
Two killed in Israeli airstrike targeting vehicle in Ain El Remmaneh, Aley District (Video)
Lebanon News
2024-10-30
Two killed in Israeli airstrike targeting vehicle in Ain El Remmaneh, Aley District (Video)
0
Lebanon News
2024-10-30
Baalbek residents flee to Deir al-Ahmar after Israeli evacuation warning; stranded families await shelter (Video)
Lebanon News
2024-10-30
Baalbek residents flee to Deir al-Ahmar after Israeli evacuation warning; stranded families await shelter (Video)
Most read
d-none hideMe
24 hours
7 days
Month
1
Middle East News
13:18
Israel strikes Hezbollah’s intelligence infrastructure in Syria, targeting key operatives: Israeli army claims
Middle East News
13:18
Israel strikes Hezbollah’s intelligence infrastructure in Syria, targeting key operatives: Israeli army claims
2
Lebanon News
06:56
Israeli army claims assassination of Hezbollah commander 'Riad Rida Ghazzawi' in South Lebanon
Lebanon News
06:56
Israeli army claims assassination of Hezbollah commander 'Riad Rida Ghazzawi' in South Lebanon
3
Lebanon News
01:41
Israeli army claims strike kills Hezbollah commander 'Abu Ali Rida' in Baraachit, southern Lebanon
Lebanon News
01:41
Israeli army claims strike kills Hezbollah commander 'Abu Ali Rida' in Baraachit, southern Lebanon
4
Lebanon News
07:42
Israeli army destroys residential neighborhoods in Meiss El Jabal, South Lebanon (Video)
Lebanon News
07:42
Israeli army destroys residential neighborhoods in Meiss El Jabal, South Lebanon (Video)
5
Lebanon News
10:50
Israel's army claims 188th Brigade 'dismantling' Hezbollah infrastructure in southern Lebanon
Lebanon News
10:50
Israel's army claims 188th Brigade 'dismantling' Hezbollah infrastructure in southern Lebanon
6
Lebanon News
03:29
Hezbollah says launched 'big rocket salvo' at Israel's Safed
Lebanon News
03:29
Hezbollah says launched 'big rocket salvo' at Israel's Safed
7
News Bulletin Reports
12:55
South Lebanon in ruins: Israel's buffer zone strategy leaves villages uninhabitable
News Bulletin Reports
12:55
South Lebanon in ruins: Israel's buffer zone strategy leaves villages uninhabitable
8
Lebanon News
11:49
Israeli jets breach sound barrier in Lebanon, Lebanese state media reports
Lebanon News
11:49
Israeli jets breach sound barrier in Lebanon, Lebanese state media reports
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