Industry Trend Analysis - Tax Law Paves Way For Exploration - NOV 2017

BMI View: The finalisation of the petroleum tax law in Lebanon is a crucial step towards the development of the country's hydrocarbon sector. Relatively favourable taxation terms and the stability new legislation brings will be a positive for interest in the latest offshore licensing round.

Lebanon has approved a new petroleum tax law, with the legislation passing through government earlier this week. The law introduces a 20% corporate income tax for companies involved with the exploration and production of hydrocarbons, alongside a fixed stamp-duty fee of 5 million Lebanese pounds (USD3,309).

Lebanon Playing Catch-Up

Lebanese Regime Regionally Competitive
East Mediterranean Corporate Income Tax Rate By Country, %
Source: EY Global Oil & Gas Tax Guide 2017, BMI

This article is part of our Middle East & Africa coverage. To access this article subscribe now or sign up for free trial