Tangled in a web of red tape

ENAR

Executive sits down with Namir Cortas, a founder of Estates Property Development and Investment, as well as president of the recently-formed Real Estate Developers Association of Lebanon (REDAL), to talk taxes, regulation and corruption.   Why was REDAL created? We created an association that aims at pooling the major developers in an effort to better communicate our role to various governmental and other economic parties, as well as the public at large.    What’s your take on new tax proposals? We suffer more indirect taxes, I believe, than any other sector.   How so? Stamp fees, registration fees, permits. When we have archeological inspections to go through, we foot the whole bill. We suffer V.A.T. on construction. We don’t recover it. [In a project my company is working on, indirect taxes] will account for 30 to 35 percent of the overall project cost.    Is getting all of the paperwork