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INHERITANCE TAX
Inheritance taxes are levied at progressive rates depending on the degree of kinship between the deceased and the heir. The lowest rates apply to the deceased’s children, higher rates apply to parents and other close relatives, and the highest rates apply to distant relatives and other persons not related to the deceased.
INHERITANCE TAX |
|
| TAX BASE, LBP (US$) | |
| Up to 30 million (US$20,000) | |
| 30 million – 60 million (US$40,000) | |
| 60 million – 100 million (US$66,667) | |
| 100 million – 200 million (US$133,333) | |
| 200 million – 350 million (US$233,333) | |
| Over 350 million (US$233,333) | |
| Source: Global Property Guide | |
The inheritance tax is levied on each beneficiary’s net inheritance. The taxable inheritance is the gross estate less expired or irrecoverable debts, debts of the deceased, debts related to the estate, and burial expenses. Each beneficiary is also entitled to exemption amounts and special allowances.
Exemption Amounts
- LBP40 million (US$26,667) for the spouse, parent, children
- LBP16 million (US$10,667) for the grandparents
- LBP8 million (US$5,333) for other heirs
Special Allowances
- LBP14 million (US$9,333) for a handicapped child
- LBP1,600,000 (US$1,067) for each year a minor child is below 18 years of age
- LBP16 million (US$10,667) for a married heir
- LBP8 million (US$5,333) for each child of the heir, up to a maximum of LBP40 million (US$26,667)
Lebanon - more data and information
Comments
#1 DANNY NOUH | July 19, 2007
Hi, If we have inherited land that also has other heirs that we cannot find, how do we go about registering the land in our name. What are the steps and the expenses that we must go through before the land is registered in our name. Many Thanks Danny
#2 DANIELLE LAVIGNE | March 27, 2008
My husband and I own land and a house in Lebanon. We are both living in Canada and going through a divorce. What is the law in regards to selling the house and land in Lebanon and sharing the profits.
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