Lebanon's parliament has failed for a second time to elect the country's next president, with not enough MPs present to reach the quorum.
Speaker Nabih Berri adjourned the house until October 20, less than two weeks before the term of incumbent Michel Aoun expires.
With a consensus candidate yet to emerge, the prospect of a presidential vacuum looms. An attendance of two thirds — or 86 MPs ― in the 128-seat Parliament is required to meet the quorum. But only 71 were present in the deeply divided chamber on Thursday.
This is the second time that MPs have failed to elect Lebanon's next head of state after no clear winner emerged during a vote at an initial session on September 29.
On that day, MP Michel Moawad, whose father Rene served as president for 18 days in 1989 before being assassinated, received the most votes, with 36. He was mainly backed by a grouping of MPs who are critical of Iran-backed Hezbollah, the armed group and political party that has significant sway in Lebanon.
“We are ready at any time to elect a president but it is clear today that several parties are not ready for the presidential election because of differences,” said Georges Adwan, a senior MP in the Lebanese Forces party.
The LF, a staunch critic of Hezbollah, supported Mr Moawad in the last round.
In the first polling round, a two-thirds majority is required to win. But only an absolute majority is needed in subsequent votes.
The failure to find a successor to Mr Aoun, 89, in the first two rounds was not unexpected and has precedent — it took 46 sessions and 29 months for parliament to elect the former army commander in 2016.
In the country's confessional system, the presidency is always reserved for a Maronite Christian.
Among the key factions absent from Thursday's session were the 17 MPs from the Free Patriotic Movement (FPM), the party founded by Mr Aoun and led by his son-in-law Gebran Bassil.
Mr Bassil justified his party's lack of attendance by saying the session was scheduled on an important day for the FPM. On October 13, 1990, Mr Aoun — then serving as the commander of the Lebanese Army — was ousted from his base at the presidential palace in Baabda by Syrian forces.
“Some people betrayed this date and did not respect the commemoration,” Mr Bassil said.
Only of a handful of the 13 MPs from Hezbollah were present. Hezbollah MP Hasan Fadlallah said Mr Moawad's candidacy would “not lead to any results”.
If parliament fails to decide on Mr Aoun's successor before his term ends, the government will assume presidential powers.
However, the government itself is in a caretaker capacity, adding to the political paralysis. Najib Mikati was named prime minister-designate in June, a month after parliamentary elections, but political factions have not yet agreed on the distribution of portfolios in his Cabinet.
Lebanon is facing a financial crisis described by the World Bank as one of the worst in modern history, with the local currency plunging in value by more than 95 per cent over the past three years.
There are severe shortages in basic goods such as bread, water, electricity and medicines.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Four-day collections of TOH
Day Indian Rs (Dh)
Thursday 500.75 million (25.23m)
Friday 280.25m (14.12m)
Saturday 220.75m (11.21m)
Sunday 170.25m (8.58m)
Total 1.19bn (59.15m)
(Figures in millions, approximate)
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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THREE
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CONFIRMED%20LINE-UP
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