LebGeeks

mikasa

Member

Questions about registering and running an ecom business legally in LB

Hello everyone,

first lets say that the end result we want is that we have a small clothing or shoes ecom store and it is successful, we are getting 1k or 2k sales from Lebanon and outside. And that the delivery company sends us our payments at the end of each month.

what im asking about is an example or birdeye view about how is the backend of this business is expected to be created and working.

for example at first you need to register a legal entity, then create a bank account under that entity , then keep invoices of everything, then do taxes i know nothing about taxes or how it is done. like lets say i made $2000 pure profit , but the money is in the entity bank account, how taxes is calculated on the profit and is there 2 taxes profit taxes and income taxes.

I hope you get an idea im so lost. Any idea about how to improve my mind clarity about these things. Thanks

xerxes

Member

Re: Questions about registering and running an ecom business legally in LB

Hey,

Income taxes rate depends on the legal structure.
Corporate Income tax rate is 17% from net profit (Joint stock and limited liability companies SAL and SARL). you are also required to maintain accounting books and records.

Sole proprietorship and personal companies are taxed on net income as well.however, tax rates depend on the amount of net income you earn during the year (Progressive tax brackets)

Note that if you hire employees you will have to make quarterly and yearly filings to the ministry of finance and national social security fund.

you will also have to file VAT returns quarterly if you earn more than 100Milllions LBP in a quarter or in any 4 consecutive quarters

Last edited by xerxes (last month)