Safadi denies asking to raise VAT from 10 to 12 pct

Lebanon

Safadi denies asking to raise VAT from 10 to 12 pct

February 12, 2013 01:03 AM

The Daily Star

BEIRUT: Finance Minister Mohammad Safadi denied Monday media allegations that he has proposed raising the value added tax from 10 to 12 percent.

“The issue which will be discussed is to amend some measures in the tax administration and this has nothing to do with raising the VAT,” Safadi said in a statement.

Prime Minister Najib Mikati told reporters Friday that he would reject any attempt to raise the VAT. Sources told The Daily Star that Safadi is planning to submit the 2013 draft budget, which would not include any new tax.

The draft budget, which is yet to be discussed by the Cabinet, is seen as a bid to introduce austerity measures. It will only include current spending and projected revenues.

A version of this article appeared in the print edition of The Daily Star on February 12, 2013, on page 5.

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Story Summary

Finance Minister Mohammad Safadi denied Monday media allegations that he has proposed raising the value added tax from 10 to 12 percent.

Sources told The Daily Star that Safadi is planning to submit the 2013 draft budget, which would not include any new tax.

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