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The Lebanese cabinet agreed on Friday to impose LL500,000 ($333 ) tax on auto license plates with three digits and LL250,000($117) on four-digit plates in a move aimed at generating LL14 billion ($9.33 million).

The low digit license plates in Lebanon ( and the Middle East) are a status symbol and command very high premiums. Many car license plates are more expensive than the car itself.

Also at the request of Interior Minister Ziad Baroud, the government raised the traffic fines three-fold in an attempt to reduce mounting traffic accidents in the country.

It also established new guidelines for importing used cars and motorcycles. Cars should be maximum six years and motorcycles, three years old.

Furthermore, the cabinet decided to increase taxes on airline tickets by 10 percent.

Apart from the above measures, the cabinet did not make any drastic changes in other taxes such as the value-added tax, personal income and corporate taxes.

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