VAT hike of 1 percent impacts significantly
The Lebanese government has included a 1% increase in the Value Added Tax (VAT) in the draft law submitted to Parliament, raising it to 12% for certain goods. This move comes amid a state of chaos and economic challenges facing the country, following a hidden increase in fuel prices, a salary crisis, and unfulfilled promises. This increase comes at a time when Lebanon is experiencing its most severe economic crisis, with the hike in VAT eliciting expressions of discontent. Opinions have varied between outright rejection and justifications of it as a necessary measure to fund the budget.
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