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The Impact of the Customs Dollar on Lebanon’s Growth

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Lebanese media reported that the Lebanese customs dollar was set at a price of 45,000 pounds sterling, provided that it includes all imported materials, with the exception of materials exempted from customs duties, including food.

A document released to the media revealed that Lebanese Acting Prime Minister Najib Mikati has agreed to raise his country’s customs dollar exchange rate from £15,000 to £45,000 starting today.

The move came three months after the start of calculating foreign exchange rates for taxes and duties levied by the Customs Administration on imported goods and merchandise at a rate of £15,000 per dollar.

The customs dollar is the basis on which the value of duties and taxes on imported goods and goods in Lebanon is calculated.

Source: agencies

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