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Syndicate of Jewelry in Lebanon: the 3% tax will put an end to liberal professions
24-7-2019
The Syndicate of Jewelry in Lebanon, headed by Antoine Moghanni, warned in a statement yesterday of the repercussions of the 3% tax enacted recently on imports (https://lkdg.org/ar/node/18693). The said tax which engulfs the various economic and trade sectors, notably the services sector, shall speed up their demise, according to the statement. The disguised increase of the TVA fee will eventually annihilate various liberal and service professions, turning the county into a large food market, the statement added, and driving the nation into poverty and deprivation. The Syndicate’s statement went on to say, that for the first time since its establishment, the jewelry market shows a rise in supply over demand. Many Lebanese are selling their jewelry, gold accessories, and precious stones to pay their children’s school fees and other dues, it said, pointing to a shrinking workforce in the industry, less than 1000 down from 5,000 between traders, factories and workers. Those remaining consider leaving the country. (Al Diyar, July 24, 2019)
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- العربية
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