The circulation of the Banque du Liban is problematic. What is the history of the million dollar and the 44th law?

"The measures promised by the president to combat and reduce the scale of tax evasion began to appear," writes René in the daily Al-Gomhuriya under the headline "Reduce tax evasion: the banks monitor their customers ".

Banks have already begun to ask their clients of companies with banking facilities to file a budget for the accounts of the company, which is certified by the Department of Taxation of the Ministry of Finance.

The measure is part of the fight against tax evasion conducted by the Ministry of Finance in cooperation with the banks, to prevent companies that prepare two different budgets and l & # 39; one of the size of his actual work and that are provided to the bank to rely on banking facilities and other "manipulated" by the tax authorities to evade taxes.

Banks provided business banking facilities on the basis of company accounts and did not rely on the budgets provided because they know in advance that all companies in Lebanon have different budgets and can not do not match the actual numbers.

The proposal to cooperate with the Ministry of Finance to fight against tax evasion and to oblige banks to provide budgets submitted by their clients to the Ministry of Finance has been proposed, but banks have rejected this proposal because it has become clear that the majority of businesses in Lebanon depend on two different budgets.
But the surprise is that the Bank of Lebanon has come back and co-operated in this regard, as the banking sector is now under international pressure which forces it to cooperate, which led to the publication of this circular. One of the bankers doubt the reputation of banks in correspondent banks and the international community, Banks have made loans in recent years and since the emergence of the banking sector, on the basis of false budgets.

It is unfortunate that this measure is necessary to prevent tax evasion, limit bank borrowings in this form and give banks the power to play the role of regulators, while it is more effective to regulate the accounting and auditor professions and to activate the control of tax authorities.
Why has the $ 1 million ceiling been set? Are we going to fight tax evasion in big business and let companies whose business volume is less than a million dollars?
Dahir
For its part, legal expert Karim Daher said that this circular and the new procedure constituted a positive move, among the necessary reforms in the fight against tax evasion and law enforcement, stressing that it would effectively pay all scammers to settle their situation at the Ministry of Finance and fulfill their obligations and their adherence to fundamentalist accounting, About Banking.