- Lebanon’s finance minister defended a tax hike intended to fund a sixfold increase in public sector wages and pensions.
- The decision sparked protests and opposition from unions and some cabinet members, who argue it burdens citizens.
- The VAT was raised from 11% to 12%, and a new gasoline tax was introduced.
- Critics warn the move will fuel inflation and further strain the economy.
- The wage increase only restores salaries to about 28% of their pre-2019 value due to currency depreciation.
Source: macaubusiness.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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