TheRodinhoods

Can someone demystify LBT ( new tax ) ?

A casual meet up at a friends office brought up the Discussion of LBT and from whatever I heard it sounds pretty scary.  Even if my company is not selling any goods , I have to register my business for LBT since we have the Shop and Establishment certificate. 

And we need to maintain LBT  ‘paid’ for everything the company buys.  

Is this true ? And we need to file monthly returns ?  This Law is going to apply from October ? 

Can someone please demystify what is this LBT crap all about in simple words ?