FAQs

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The following are the frequently asked questions by our clients, answered in the most precise way. However, don’t hesitate to contact us for further details.

What are the papers needed for a person to insure his parents?

  1. Registrar record for the family
  1. Affidavit from all siblings stating that they have not insured the parent
  1. A family registrar record for the insured person
  1. A copy of the insured person’s ID (his/her age must be over 65 years old)
  1. A residence affidavit

To increase the capital, a limited clearance is needed, however to decrease it a full clearance is needed.

The wife can benefit from the family insurance benefits on behalf of her children if her husband is travelling or unemployed only after a social investigation by the management of the National Fund of the social security.

A 5% penalty of the payable tax is imposed for every month of delay.

A 1% penalty or 1.5% (According to the type of tax) is imposed, monthly, for the unpaid taxes.

Companies that are trading with farmers or individuals that are not registered with the Ministry of Finance must have a proceeds record book stating the name of the person, his address, phone number, the amount bought, and his signature to allow the tax calculation.

Of the main cases which require us to convert from lump-sum to a real profit is when the number of employees exceeds four

Holding companies are able to manage other companies if they acquired 20% of its shares and the burden of managing these companies becomes a tax deductible burden.

A company or individuals are compulsory required to register with the directorate of value-added tax, within maximum of two months after four consecutive seasons and the amount of their business reaches LBP 100,000,000 (USD 66,667), and registering can also be optional if the concerned party opted for it.

Individual institutions can register with the chamber under the fourth category and this category allows the registration of transport vehicles in one province only.

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