Arab Today, arab today lack of taxes salary scale weaknesses in budget
Last Updated : GMT 09:34:52
Arab Today, arab today
Arab Today, arab today

Lack of taxes, salary scale weaknesses in budget

Arab Today, arab today

Arab Today, arab today Lack of taxes, salary scale weaknesses in budget

Beirut - Arabstoday

The director-general of the Finance Ministry, Alain Bifani, said the main advantage of the 2012 draft budget is that it is the first of its kind in the past eight years. Bifani, who was giving a lecture about the state of the Treasury at the Press Club, said this budget lacked taxes and salary scales for government employees, adding that these points were among the bill’s weaknesses. “This budget represents the government’s program over the past year. The budget should have been comprehensive but this [goal] was not actually realized up until now. But there are attempts to make this bill more comprehensive,” Bifani said. He added that not too long ago the enormous electricity spending had not been noted in the state’s budget. “All spending, including allocations for electricity, should have been mentioned in the budgets in order to present all the closing accounts. But regrettably the closing of accounts were never presented over the past few years or had been hastily prepared,” Bifani explained. He said the government did not include the salary scale in the new budget, perhaps because its was under the impression that this issue would require more time to prepare. “The government has a feeling that it cannot continue spending without having legal constraints. The new budget did not include an earlier proposal to raise the value added tax by 2 percent, which was approved by the Paris III donor conference in 2006,” Bifani said. He added that the new bill, which has yet to be approved by Parliament, also did not include a proposal to raise the taxes on interest rates on customer deposits from 5 to 7 percent. “I can tell you from now there will be a heated debate in Parliament over the new bill on the grounds that, ‘how can you endorse the budget without a closing of accounts?’” he said. He underlined the need to complete all the auditing on the closing of accounts for all the previous years. Bifani added that total government revenues over the past three years have declined in comparison to the country’s GDP. He said most of the taxes in Lebanon have focused on consumer taxes such as VAT and taxes on cellphone calls. “The taxes on wealth are almost nonexistent,” the director-general said, alluding to taxes on capital gains and higher incomes. From DailyStar

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lack of taxes salary scale weaknesses in budget Arab Today, arab today lack of taxes salary scale weaknesses in budget

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday