The IDAL, the Investment Development Authority of Lebanon, offers again, after three years of suspension, the incentives for projects of Information Technology sector. These incentives provide exemptions for income tax and the taxation of dividends for a period of ten years.

The termination of the grant of incentives was due to an error in the list of eligible activities for the purposes of the benefit, attached to Ministerial Decree which provided them. In April 2016, the Council of Ministers, by the Decree of 3158, approved a new list of IT assets that can benefit from tax incentives gives from IDAL.

The activities for which incentives may be required are: the publication of software and computer programming, provision of infrastructure for the processing of data such as web hosting, streaming services and hosting applications. Also Internet service providers are targeted.

The IDAL grants tax incentives for various sectors: agro-industrial, manufacturing, tourism, agriculture, communications and media. In the last 15 years they have benefited from the incentives of IDAL. projects with a total value of over 1.7 billion dollars.

(ITALPRESS).

Source: medNews