The Banque du Liban headquarters in Beirut. (Credit: João Sousa/L'Orient Today)
In January, Lebanon rolled out a new income tax system, under which US dollar salaries are taxed at the LL15,000-to-dollar exchange rate, far below their value on the parallel market rate.
This translates into the effective income tax for lira earners being proportionally much higher than for dollar earners.
At the time, L’Orient Today wrote an in-depth report about it.
But if you want a quick video refresher, here it is:
In January, Lebanon rolled out a new income tax system, under which US dollar salaries are taxed at the LL15,000-to-dollar exchange rate, far below their value on the parallel market rate. This translates into the effective income tax for lira earners being proportionally much higher than for dollar earners. At the time, L’Orient Today wrote an in-depth report about it. But if you want a quick video refresher, here it is:...