Ministerial C'tee passes negative tax

The Knesset Ministerial Committee for Legislation on Sunday approved the bill proposal for the implementation of negative income tax policy and mandatory pension law plan for every employee.

By SHARON WROBEL
March 12, 2007 07:59

The Knesset Ministerial Committee for Legislation on Sunday approved the bill proposal for the implementation of negative income tax policy and mandatory pension law plan for every employee. According to the bill proposal, negative income tax would be introduced partially this year among thousands of families across the country as a pilot plan with full implementation by next year. The mandatory pension law would oblige each employer to provide contributions to employees' pension funds from 2010. The bill proposal still awaits approval of the Knesset.


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