The severe distress that has struck Lebanon aims to undermine the abilities of its people, dismantle its society, and dismantle the foundations of its administrative, financial, and economic institutions. This involves implementing flawed financial and monetary policies, following a reckless policy of indebtedness that has pushed Lebanon into perilous schemes to displace and impoverish its citizens. These actions have harmed not only the current generation but also the future prospects of its youth in various aspects of life, including financial, economic, military, and cultural dimensions. This has resulted in a loss of confidence, both internally and externally, in the nation.
Given the critical state of crisis that Lebanon and its populace are grappling with, it is imperative for the Lebanese Tax Association to fulfill its responsibilities. It must rally all sectors to collaborate in countering this brutal and ruinous assault. The only way out of this dire situation lies in uniting swiftly and shouldering our national obligations to revitalize the prosperous heritage of the Lebanese people. This collective effort is essential for rescuing Lebanon’s societal and national fabric, which had once set it apart and garnered admiration as a beacon of civilization. A populace of this caliber will not abandon their homeland, as they possess the capability to restore the trust of local, regional, and global entities. With our strengths intact, we can undoubtedly regain the lofty stature we once held.
The scope of the Lebanese Tax Association goes beyond its name and the perception that it exclusively deals with tax matters. It engages in tasks across multiple sectors and collaborates in joint executive roles. Its involvement with taxes extends to leveraging its expertise, standards, and capabilities to fortify legislation, leading to enhanced utilization and the attainment of tax justice. This justice is crucial for both national income and the earnings of both entities and individuals.
In line with its objectives and in partnership with relevant stakeholders in the realms of economy, finance, and state institutions responsible for taxes, the Lebanese Tax Association has formulated its responsible plan’s objectives and has commenced its achievement in the following ways:
Working towards achieving tax justice in both legislative and implementation spheres. This effort is based on its role in constructing and cooperating with other components, all committed to fulfilling their responsibilities in safeguarding Lebanon’s national economy.
Initiating the development of a financial and economic perspective for two interconnected plans that involve participation from relevant entities: a. An immediate plan designed to expedite the departure from the policy of indebtedness and address pressing issues and wastefulness. This plan requires prompt solutions such as improving essential services. It also contributes to the integration of roles and the trajectory of the long-term plan. b. A long-term plan, complementing the immediate plan, intended to secure various sources of production, encompassing local and foreign investments as well as taxes. This comprehensive development plan aims to accomplish shared executive objectives. Both plans are intertwined, and neglecting either would result in a change of course and the loss of their purpose. The preparation of these plans necessitates accurate financial data and priorities to gain insight into the true financial and economic conditions.
To initiate implementation, a seminar is proposed, urging all stakeholders, especially the Economic and Social Council, to participate. This council embodies the diverse sectors constituting Lebanese society.
Contributing to the establishment of a statistical entity for gathering financial and economic data and trends. This entity facilitates necessary information for economic feasibility studies of projects and empowers the state to align with local, Arab, and international standards. Financial statements that accurately depict financial realities are endorsed in both public and private sectors. These statements adhere to international accounting and auditing standards akin to those adopted by developed nations.
LTA embarks on elucidating international accounting and auditing standards established by the International Federation and the Association of Certified Public Accountants in Lebanon. It mandates their adoption. This initial step, undertaken by the association, involves explaining these standards and highlighting their significance and tangible benefits to all stakeholders engaged with them—be it government bodies, companies, or institutions. This is just the first of many similar actions, including training and explanatory courses, that the association intends to take.