Lebanese Industrialists Association’s Statement on Solar Energy Exemption Decision

The Association of Lebanese Industrialists, headed by Salim Al-Ze’ni, issued a statement, stating: “Following its review of the concerned officials in the Lebanese state, especially the Parliamentary National Economy, Trade, Industry and Planning Committee headed by Representative Farid Al-Bustani and the Ministries of Energy, Water and Finance, the provisions of Article 72 contained in Resolution 640/ of the General Budget Law for the year 2022, which stipulates exempting devices and equipment that operate on solar energy from value-added tax and customs duties, including the 3% flat fee.

The association directed “great thanks to the member of the National Economy Committee, Representative Razi Al-Hajj, for his basic work, his close follow-up, and his direct and continuous communication with the concerned ministers to reach this decision.”

She thanked both “Minister of Energy and Water Walid Fayyad, Minister of Finance Youssef Al-Khalil and Director General of the Ministry of Finance George Maarawi for their full cooperation and work together in order to reach happy endings in this issue that concerns all the Lebanese.”

And she stressed the importance of this “strategic decision, as it encourages, on the one hand, the transition to renewable and clean energy, and motivates the Lebanese and various institutions and industries, including them, to use it, and on the other hand, it contributes to reducing the cost of the fuel bill, which is reflected in a decline in the cost of production and commodity prices, and thus increases the competitiveness of the Lebanese economy and the competitiveness of national industry.

And she wished the Higher Council of Customs to “issue a decision to quickly specify the minutes for implementing the exemption decision.”

2023-08-31 15:07:21
#Good #news #Lebanese #solar #energy