Lebanon’s Finance Minister Ghazi Wazni made an announcement to public institutions in the wake of coronavirus (COVID-19), saying that they no longer need to pay their stamp duties, which are 0.4% of every contract written or implied.
This was done to facilitate these institutions’ functions during a time of general mobilization.
“Building on the council of ministers’ announcement of general mobilization to protect citizens from the Coronavirus pandemic, this health hazard requires that public administrations and institutions, municipalities, and municipal unions cooperate with those contracted to provide supplies, labor, and services,” Wazni said.
He added that this process usually requires stamp duties of 0.4% of every contract. However, in these “exceptional circumstances”, the deadline for paying these fees has been postponed until the end of the period of general mobilization, which is expected to be at the end of April.
Companies are urged to head to the specialized departments in the Ministry of Finance for payments.
The Ministry also required that public institutions do the following:
- Public administrations and institutions, municipalities, municipal unions, and other persons of public law are required to notify the Indirect Taxes Office in Beirut with copies of their contracts by the end of the month, during which the council of ministers will announce the end of the general mobilization.
- Withholding the fee that is required from contract holders for the first payment and, in addition, fees that are required to be paid periodically according to Article 14 of Financial Stamp Laws will be deducted
- Public administrations and institutions, municipalities, municipal unions, and other persons of public law are required to pay the deductible fees periodically.
The duties will be postponed until the end of the period of the general mobilization.
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