News Briefs

  10/30/2011, Cheshvan 2, 5772

Cabinet Approves Trajtenberg Tax Recommendations

The cabinet approved, Sunday, the tax recommendations of the Trajtenberg Committee on socioeconomic change, which are designed to bring down taxes on certain every-day consumer items. Some of the recommendatios are expected to bear fruit immediately.

The measures include an increase on income tax for individuals who have extremely-high monthly incomes, subject to review, as well as an increase on interest, dividend and capital gains income. They include tax credits for fathers of children up to the age of three, and an end on the purchase tax for fuels. Import duties will be reduced.