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Tax Services We provide a wide range of tax services to companies, partnerships, individuals and trusts. These are available not only to clients who use our auditing and accounting services, but to any business enterprise or individual requiring specialized tax advice. The services provided fall broadly under two headings: Assistance to clients in meeting their tax compliance obligations. The provision of specialized tax planning advice which aims to ensure that clients' businesses and financial affairs are arranged in an orderly manner with proper regard to the incidence of taxation. These services encompass a number of areas which include the following: Companies, compliance: Preparation of companies' tax computations for submission to the local tax authorities. Advice regarding appeals against tax assessments and tax payments. Individual, partnership, and trust tax compliance. Preparation of the appropriate tax returns for submission to the tax authorities and handling of any subsequent correspondence, discussions, etc., with the local tax authorities in determining the tax liability. Corporate tax planning: The structure of business operations operating through groups or divisions. Corporate and group reorganizations. Mergers and acquisitions. Optimizing the use of available relief and allowances. Planning dividend policy. Executive remuneration. Tax treatment of fringe benefits. Planning of overseas assignments. Stock options and share incentive schemes. International tax planning. International group structures. Profit repatriation planning by use of dividends or royalties. Minimizing the incidence of double taxation. Advice on tax aspects of foreign currency fluctuations. Advice on double tax treaties and their effects. Advice on tax systems in other countries. Advice on tax structuring of corporate acquisitions overseas. World tax reviews and utilization of losses. Personnel tax planning, including Structuring personal business operations. Planning for business start-up e.g. partnership and other companies Establishing offshore and holding companies Tax on holding companies: Annual fixed tax on capital and reserves are as follows: 6% up to LL 50 Million. 4% between LL 50 Million and up to LL 80 Million. 2% Above LL 80 Million. Such annual tax is not to exceed LL 5 Million. Holding companies are also subject, besides above, to the following taxes: Tax on moveable capital in Lebanon. Tax on capital gains. 5% tax on administrative charges and other services billed to subsidiaries operating in Lebanon, provided such charges do not exceed limitations to be set by the Minister of Finance. 10% tax on charges for allowing the use of trademarks or other rights for resident companies. Offshore companies: Flat tax of LL 1 Million annually besides capital gains tax. Foreign employees of offshore companies working in Lebanon are allowed exemptions up to 30% of their basic salaries. SOCIAL SECURITY CONTRIBUTIONS BY EMPLOYER: Family Contribution: 6% on a maximum of 3 times the base (LL 500,000). Medical Scheme: 5% on a maximum of 3 times the base (LL 500,000). Termination Indemnity: 8 1/2 % on gross amount of earnings. A catch-up provision for cumulative indemnity, calculated at year-end on the last average salary multiplied by the number of years of service, less contributions paid to the S.S.N.F., is tax deductible and may be adjusted annually. BY EMPLOYEE Medical Scheme: 2% on a maximum of 3 times the base (LL 500,000). Family Allowance Benefits As of 1/1/1996 Spouse (if not employed) 20% of the minimum salary (LL 500,000). Children (Under 16 or over if still dependent) 11% of the minimum salary (LL 500,000) for each child up to a maximum of 5 children.