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On an international platform,
Lebanon has many advantages that Lebanese in the world can largely benefit
from, namely: |
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The moderate Lebanese fiscal
and tax system is based on the following: |
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The non existence of income
tax for Lebanese residents, unless they are performing a taxable occupation or
profession. In such case, tax is calculated on the basis of the income or the
profits generated from activities conducted in Lebanon. |
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The non-existence of a general
progressive income tax for individuals. |
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The moderate system governing
holdings and offshore companies, exonerates them of taxes and subjects them to
a modest hump-sum duty. |
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The exemption of double taxation
with countries having signed an agreement with Lebanon on the matter. |
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Minimal income taxes applied in
Lebanon, and applied only to revenues generated on the Lebanese territory. |
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The Lebanese Banking Secrecy
system is defined by the law of 1956; This law protects the confidentially of
bank customers and safeguards their wealth, while strictly respecting and
applying international rules and regulations on the flight against money
laundering and financing of terrorism. The Lebanese banking system is
characterized by: |
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Highly skilled and competent
bank management and the excellence of services offered. |
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The freedom of capital flow
between Lebanon and the world, as well as total freedom of capital markets
operations. The joint
account system that, upon the death of one of the account holders, allows the
other account holder to dispose of the totality of amounts in the account, with
no legal obligation to any succession taxes. The right to obtain credit
facilities granted by the Lebanese Habitat Bank at competitive and attractive
conditions. |
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