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LAWMAKING EFFORTS IN LEBANON: BOOSTING FINANCIAL MARKETS AND ATTRACTION OF CAPITAL

Beirut, Lebanon - The Lebanese government has been actively working to enhance the country’s financial landscape by introducing a series of laws aimed at boosting liquidity, attracting capital, and promoting transparency in the financial markets.

Asset Securitization Law (N°705/2005)

In 2005, Law No. 705 was enacted to facilitate the securitization of illiquid assets into securities, thereby creating a new channel for attracting capital and increasing liquidity in the market.

Collective Investment Schemes Law (N°706/2005)

The Collective Investment Schemes Law (No. 706/2005) was also introduced in 2005 to regulate investment schemes and provide additional instruments for attracting capital and savings.

Tax Procedures Law (N°44/2008)

In 2008, the Tax Procedures Law (No. 44/2008) aimed to simplify and unify tax procedures, making it easier for businesses to operate in Lebanon.

Insider Trading and Financial Markets Regulation (Laws NOS. 160-161/2011)

In 2011, Laws No. 160 and 161 were enacted to prohibit insider trading and regulate financial markets, ensuring a level playing field for all market participants.

Fighting Money Laundering and Terrorist Financing (Law NO. 44/2015)

Law No. 44 of 2015 aimed to combat money laundering and terrorist financing by strengthening regulations and increasing transparency in the financial sector.

Exchange of Tax Information (Law NO. 43/2015)

The Exchange of Tax Information Law (No. 43/2015) was enacted to facilitate the exchange of tax information between Lebanon and other countries, promoting cooperation and combating tax evasion.

Authorization to Join the International Convention on the Suppression of the Financing of Terrorism (Law NO. 53/2015)

Law No. 53 of 2015 authorized the Lebanese government to join the International Convention for the Suppression of the Financing of Terrorism, demonstrating Lebanon’s commitment to combating terrorism.

Automatic Exchange of Information for Taxation Purposes (Law NO. 55/2016)

The Automatic Exchange of Information for Taxation Purposes Law (No. 55/2016) aimed to increase transparency and cooperation in tax matters between Lebanon and other countries.

Exceptional Revaluation of Fixed Assets (Article 49 of Law NO. 66/2017)

Article 49 of the Budget Law No. 66 of 2017 allowed companies to carry out an exceptional revaluation of their fixed assets, including shares, debt securities, and property, to correct the effects of monetary inflation.

Minutes of Application of Article 51 of Law NO. 497/2003 (Decision NO. 1504/1/2017)

Decision No. 1504/1 of 2017 provided guidance on the application of Article 51 of Law No. 497 of 2003, which imposes a 7% tax on interest and income from bank deposits.

Electronic Transactions and Personal Data Protection Law (Law NO. 81/2018)

The Electronic Transactions and Personal Data Protection Law (No. 81/2018) aimed to regulate electronic transactions, including online banking and e-commerce, while also protecting personal data confidentiality.

These laws demonstrate the Lebanese government’s commitment to promoting a robust financial sector, attracting capital, and ensuring transparency and stability in the market.