Lebanese Banks Move to Refuse Payment of Finance Ministry Tax

An-Nahar learned that Lebanese banks are moving to refuse implementation of the Finance Ministry’s decision to amend their tax declarations for 2020-2024, after the Association of Banks in Lebanon informed Finance Minister Yassin Jaber of its objection to a request issued on September 10, 2026. The request requires reviewing tax treatments related to Eurobond provisions and valuation losses, recovering provisions, results of bond disposals, and foreign exchange differences, and submitting amended declarations before October 31, 2026. The association deemed the deadline impracticable and demanded its suspension and renewed negotiations, while its board decided not to pay and called for negotiation. The association estimates the measure could impose more than $600 million in taxes on actual losses rather than realized profits, amid the ongoing fallout of the financial collapse and deposits crisis.