BREAKING NEWS

VAT hike postponed to after Shabbat

MAY 26, 2013 17:12

The VAT increase will be pushed off by a day in order to avoid desecrating Shabbat, the Finance Ministry announced Sunday, following a request from Knesset Finance Committee chairman Nissan Slomiansky (Bayit Yehudi).

The 1-percentage point increase, raising the VAT to 18%, was scheduled to go into effect at midnight on May 31, a Friday night, and will now take place on June 1.

Slomiansky said he is glad the Finance Ministry was responsive and expressed hope that, in the future, changes will not be scheduled for Saturdays.

According to law, products must be re-labeled and their prices digitally updated as soon as the VAT changes. If the increase were not postponed, it would have required people to violate Shabbat by changing prices on Friday night.

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