VincentKeyboard wroteHe buys a 100 USD item at 1600 LBP, pays the supplier VAT at 1515(?) and then sells in LBP at 7500 or 8000 after pricing it at 1000 or 2000 USD (VAT being 110 or 220 in this case) and collecting a substantial VAT that is often even larger than what the item cost him.
Since VAT due to the MOF is = VAT collected - VAT paid, the due amount is enormous.
It's not an issue of USD and LBP. Remember that VAT collected is calculated on the sale price which includes your profit.
this is what i was saying, he is collecting VAT based on the sale price which is higher than the usual (in prior years)
The number of invoices is irrelevant.
He is collecting more VAT from clients than he used to, and paying on the 1600 or 1700 , so it's normal to pay more VAT.
and VAT paid and collected does not affect his profit in a direct way (it may in an indirect way where consumers tend to purchase less but that's another issue)
and sure, if a company bills in USD you can always pay at the rate of 1507.5