The Lebanese ministry of Finance is currently reviewing the taxation system in view of establishing a specific fiscal regime for petroleum activities. Such regime needs to finely define the features of the oil and gas sector and set the main framework for profit sharing of the hydrocarbon wealth between the government and the investors, whose interests diverge more often than they converge.
The components of a fiscal regime are often misunderstood. Though the corporate income tax forms the system's corner stone, it remains one of numerous taxation and para-taxation tools that constitute the fiscal regime for petroleum activities in any country. Investors examine the regime in its totally, when assessing the investment attractiveness of a country.