PMO: Gov't to approve Trajtenberg tax recommendations

October 29, 2011 19:39


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The Prime Minister's Office announced Saturday that the government will pass tax recommendations from the Trajtenberg report in a special meeting in Sefad on Sunday.

The tax measures include the cancellation of NIS 2.5 billion of energy taxes, which will reduce the price of gasoline, diesel, and coal, a NIS 5000 annual tax credit for parents of children up to the age of three and a 2% "wealth tax" increase on income over NIS 1 million.

Furthermore, import duties on products not produced in Israel will be canceled, making them more affordable to consumers, while the corporate tax rate will rise to 25%.

Taxes on capital gains, such as stocks and dividends, will rise by 5% as well.

Once approved, the changes will have to pass the Knesset before going into effect on January 1, 2012.

The income and corporate tax changes will be reevaluated in 2014.

Related Content

Breaking news
August 20, 2018
King of Morocco appoints new minister for economy and finance