Ministry of Finance Decision 582/1 of Forensic Audit on Companies Benefitted from Governmental Subsidies

On June 23^rd, 2025, Ministers of Finance “Yassine Jaber” and Justice “Adel Nassar” issued the below decision based on law #240 dated 16/07/20201 and particularly the fourth item from the only article.

As a refresher, law #240 dated 16/07/2021 states that all those who benefited from subsidies in foreign currencies will be subject to external forensic audit.

The decision consists of the following seven articles.

1. Both Ministries of Finance and Justice will prepare a typical terms & conditions book that paves the way to sign a contract with accounting and forensic auditors.
2. The Central Bank submits detailed list of traders who benefited from governmental subsidies in US Dollar for food stuff imports. It specifies the amounts that should be submitted to the accounting and forensic auditors as soon as they start their work through Ministry of Finance.
3. Ministry of Finance, as soon as it receives the names of the beneficiaries, submits:
   1. Outstanding and paid tax schedules
   2. List of documents related to custom transactions related to the imports of these traders after signing a contract with the auditors with the Ministry of Finance.
4. Prepare a mechanism to receive data from the Central Bank.
5. The specialized department issue necessary task orders to study the operations (Income and VAT) of the traders whose names are listed in Central Bank’s lists.
6. Submit to the specialized court the results of the study of the cases where there are doubts that there are intentional tax evasions.
7. Forensic auditors submit original copies of reports to Ministries of Finance and Justice.

Ministry of Justice sends these reports when needed to the specialized legal authorities. Additionally, Ministry of Finance audits these reports through tax administration. Moreover, the tax administration could, after the end of the legal grace period, amend and impose taxes on traders who benefitted from the subsidies and made huge profits as per court decision.

In addition, as per the article published in Annahar issue of July 9^th, 2025, USD 10 billion were spent on subsidies and collected by traders. The companies benefitted from the subsidies are divided into four categories. The first two categories are under the guardianship of Ministry of Economy and Trade, it consists of companies that got subsidies to import wheat and food basket. The third category is under the responsibility of Ministry of Public Health, it consists of the companies that benefitted from subsidies to import medicine at a rate of LBP 1,500/USD. The last category is the under the guardianship of Ministry of Energy and Water, it consists of companies that imports fuel and gas for house use.

Disclaimer :

This article is a research document that is owned and published by Blominvest Bank SAL.

No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.

The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.

Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.

This research article is prepared for general circulation and is circulated for general information only.