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Lapid postpones tax deadline for businesses due to conflict

July 14, 2014 16:42

Finance Minister Yair Lapid on Monday gave all Israeli businesses a 5-day extension for paying their income tax and VAT, an attempt to ease some of the economic pressure resulting from the security situation.

Businesses will be able to pay their taxes until the 20th of the month instead of the 15th. A week earlier, Lapid extended the tax deadline for businesses in the 40 km around Gaza until the 25th of the month.

The barrage of rockets and red alerts have put many businesses in a tough spot, forcing them to limit their opening hours and keeping customers at home. The tax extension is an attempt to give them a few extra days to deal with resulting cash-flow problems.

Lapid' decision to take steps for businesses outside of the direct rocket rage is an acknowledgement that the rockets are having an economic effect throughout the rest of the country.

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