Traders submit list of demands

Beirut Traders Association calls for settlement on outstanding taxes till 2010

July 21, 2011- The Beirut Traders Association called the government to compile a settlement on outstanding taxes till 2010 as well as cancel late filing penalties.

In a list of demands presented to Prime Minister Najib Mikati, the Beirut Traders Association urged the government to refrain from setting new taxes. It also called for a subsidy of interests on banks loans dedicated to investments in commerce business.

The Traders called for achieving solvency in the social security funds for Maternity-sickness insurance and Family Allowances without increasing subscriptions. They also demanded that they be included in a social security fund, and called for a fair old-age social security system to replace the End-of-service indemnity regime.

The Traders Association called for updating the laws of trade and labor as well as the Holding and Off-shoring regulations. The association asked the government to take firm measures against the counterfeiting and smuggling of goods, as well as fight tax evasion by undeclared Traders.

The Traders Association complained the Inheritance Tax (on fixed assets) and called the government to reconsider it and find a settlement for owing funds. It also demanded the integration of the business community in the decision-making process in all matters pertaining to economy and trade.