Arab Today, arab today government plan to tax seafront properties
Last Updated : GMT 10:22:21
Arab Today, arab today
Arab Today, arab today

Government plan to tax seafront properties

Arab Today, arab today

Arab Today, arab today Government plan to tax seafront properties

Beirut - Arabstoday

The Cabinet gave its seal of approval Wednesday for long-awaited taxes on built-up properties along the Lebanese coast, a step which is expected to trigger protest by owners of resorts. Prime Minister Najib Mikati told reporters that the Cabinet had reviewed three proposals submitted by the Public Works and Transport Ministry and selected the one with the highest fees. “We selected the list which proposed the highest fees on every square meter along the coastline. We need these types of taxes to beef up revenues,” Mikati said. Economist Ghazi Wazneh hailed the Cabinet decision and said the step was long overdue. “This is very good news, but what is important is to enforce this decision and not heed the voices which will object to this tax,” Wazneh told The Daily Star. He added that some politicians had blocked earlier attempts to tax properties along the coast because these individuals had stakes in them. Taking advantage of the absence of a central authority during the Civil War, investors and warlords built most of the properties along the coast illegally. Successive governments, realizing they could not raze the illegal coastal resorts, instead slapped fees on every square meter in an attempt to restore some of the legitimate rights of the state. Sources said the state had no intention of asking the resorts’ owners to knock down the buildings as this measure would put it in direct confrontation with powerful political parties that provide protection for these investors. Some owners of resorts in Beirut pay a token fee of LL1 million ($666) per year to the state to lease millions of squares of meters of land. “These are very old contracts that were drafted when the price of land was very low. But since the prices of properties skyrocketed the state should revise these rates according to the current prices,” Wazneh said. He added that if these fee collected consistently, the treasury could collect at least $300 million a year from these properties. But Wazneh stressed that the government still needed to come up with taxes to beef up revenues to finance the recent salary hikes of public employees. The new decree does not require the Parliament’s approval, because the plan was officially ratified by the first government after the Taif Accord in 1992. It remains to be seen whether the owners of the sea resorts will comply with the new fees. 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 government plan to tax seafront properties Arab Today, arab today government plan to tax seafront properties

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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