Libya

(Draft Bill)

LD3500 monthly Universal Basic Income per citizen under a LD33,600 yearly income

LD25 an hour minimum wage (including gig work)

20% consolidated flat tax over LD12,000 a year (with double taxation)

20% corporate tax on profits

20% value added tax tax on each stage of sale (paid quarterly)

20% value added tax on imports

VAT tax registration over LD12,000 a year

Sole trader registration over LD12,000 a year

Recreational drugs are decriminalized

Estimated Revenue: LD250 billion a year (LD10 billion surplus a year)