Lebanon’s Finance Ministry Clarifies $600 Million Dispute with Banks

⏱️ Timeline

1. 3 Nov 2026, 08:20 A post addressed a $600 million amount and a fierce battle said to be waged by Safir and his group to evade their financial obligations, without further details on the nature of these obligations or the parties involved.
2. 3 Nov 2026, 17:46 A Lebanon Debate report said the public treasury rights file returned to the forefront and that the Ministry of Finance had settled the controversy over the $600 million amount, without further details on the nature of the dispute or the content of the decision.
3. 3 Nov 2026, 17:55 The Ministry of Finance issued a clarification in response to reports and interviews about demanding banks pay taxes on unrealized Eurobond profits worth $600 million. It explained that the Association of Banks in Lebanon inquired on 23 September 2024 about applying Item 8 of Article 7 of the Income Tax Law, and that the ministry obtained the opinion of the Legislation and Consultation Authority (11/2025), which agreed with the Directorate of Revenues that the item cannot be applied to provisions. It also stressed that the issue concerns how losses and provisions are calculated within the tax base, not imposing taxes on unrealized profits, and affirmed its commitment to protecting public treasury rights.

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