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BREAKING NEWS

Knesset passes first Trajtenberg law

By JPOST.COM STAFF

DECEMBER 5, 2011 20:14

The Knesset unanimously passed the second and third readings of a law containing the tax recommendations from the Trajtenberg report Monday night, Army Radio reported.

The major elements of the law - representing one section of the report - include a 2 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 a million NIS a year.

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