Lebanon's Finance Minister Ali Hassan Khalil talks during a news conference in the Ministry of Finance in Beirut April 29, 2014. REUTERS/Sharif Karim
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Lebanon's finance minister proposed a series of new taxes to finance the salary increases for civil servants and public school teachers, according to the 2017 draft budget obtained by The Daily Star.The draft budget, which is yet to be discussed and approved by the Cabinet, calls for increasing the value added tax from the current 10 percent to 11 percent, raising the tax on interest income generated from customer deposits, slapping a 15 percent tax on capital gains and increasing taxes on corporate profits from 15 to 17 percent. The fourth tax item in the draft budget is one on corporate profits, raising it from 15 to 17 percent.Khalil did not propose taxes on individual income.
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