BREAKING NEWS

Israel Tax Authority returns over half-a-billion new shekels to businesses

FEBRUARY 10, 2021 18:17

This week, thanks to a decision by Israel Tax Authority (ITA) head Eran Yaacov, thousands of Israeli businesses will see money back in their bank accounts, the ITA announced on Wednesday.

The decision to return NIS 511 million to Israeli businesses was prompted by the huge financial hits that businesses have taken since the pandemic began, suffering through three lockdowns.

Income tax surpluses, in the amount of NIS 250 million, have already been returned to 3,000 businesses as part of the process.

This isn't the first time the ITA has adopted such measures, putting NIS 1 billion in the pockets of citizens last year in March, and NIS 345 million in October.

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