The Libyan Tax Authority announced Thursday that it has achieved the highest annual revenues in its history in 2023. It reported that it had earnt total revenues exceeding LD 3.17 billion dinars, an increase of 37 percent or LD 808 million – over 2022. In 2022 it had earnt LD 2.2 billion
The Tax Authority reported that tax revenues accrued to the public treasury amounted to LD 2.54 billion in 2023, an increase of 58 percent over the amount estimated in the general budget at LD 1.6 billion.
Income tax provides highest revenues for Tax Authority
The details published by the Tax Authorities show that income taxes ranked first in revenues with a total of LD 1.52 billion. Stamp tax came in second with a total of LD 979 million.
The total deposit tax amounted to LD 474 million, fines amounted to LD 36 million, and enforcement rights amounted to LD 608,000.