Gasoline prices gas tax 311.
(photo credit: Marc Israel Sellem)
The state collected 4.1 percent more revenues from the gasoline excise in
February than it did in the corresponding month last year, the Treasury said in
its monthly report on tax collection on Wednesday.
The report was
released one week after Prime Minister Binyamin Netanyahu reduced the excise by
10 agorot to NIS 2.86 following a public outcry over the soaring cost of
gasoline. The maximum price of full-service 95 octane rose to a record NIS 7.95
on Thursday – after the excise was reduced.
Indirect tax revenues reached
NIS 7.5 billion overall in February 2012, compared to NIS 7.2 billion during
that month in the previous year. Import purchase tax revenues recorded the
highest growth, rising 31% year-on-year.
But overall tax revenues
decreased 4% year-on-year to NIS 16.4 billion, as direct tax revenues fell 9.6%
to NIS 8.9 billion. Income tax revenues decreased 10% across all sectors, while
capital market tax revenues fell 31%.
Government expenditure reached NIS
21.7 billion in February, 6.6% higher than the corresponding month last
Government spending stood at NIS 33.1 billion in the first two
months of this year, 5.9% higher than the expenditure of NIS 31.3 billion made
in the first two months of 2011.