BREAKING NEWS

Income tax to rise 1% only on those making over NIS 14,000

By JPOST.COM STAFF

AUGUST 6, 2012 13:22

The government scaled back the extent of its tax hikes on Monday, deciding on a 1% increase for those making over NIS 14,000, instead of those earning over NIS 9,000, as was previously announced, Israel Radio reported.

Prime Minister Binyamin Netanyahu agreed on the easing with Finance Minister Yuval Steinitz and Knesset Labor, Social Welfare and Health Committee chairman Haim Katz.

The Knesset will convene later in the day for a special discussion to pass the government's package of tax increases and spending cuts.

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