(photo credit: Marc Israel Sellem)
The Knesset unanimously passed the second and third readings of a law based on the tax recommendations from the Trajtenberg report Monday night.
RELATED:Cabinet due to okay new living costs measures
was the first law to pass based on the report of the Trajtenberg
Committee, established following the massive socioeconomic protests of
The major elements of the law - representing one section out of the
report's four - include a two percent tax reduction for low-income
earners, an increase of the corporate tax to 25%, providing tax credits
for fathers of children under the age of three and a 2% income tax
increase for those earning over NIS 1 million a year.
On Sunday, the cabinet was expected approved a string of measures to
bring down living costs, including opening the country’s cement market
to competition. The cabinet did vote to removing taxes on Internet purchases of up to NIS
A statement put out by the Prime Minister’s Office on Saturday evening
said the next phase of the recommendations would also work to supervise
the price of dairy products and eggs, strengthening the Antitrust
Authority to give it more effective tools to “monitor deviations in the
economy," increasing the number of bodies providing public
transportation to reduce prices, reducing the price of natural gas for
homes and increasing competition in the fuel market.
Herb Keinon contributed to this report.