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      Free Daily Israel Report
      Archive: 6/4/2012
      08:40
      Reported

      News Brief

        6/4/2012, Sivan 14, 5772

      Report: Budget Cuts, Tax Hikes in the Offing


      The 2013 budget presented by Treasurer Yuval Steinitz to Prime Minister Binyamin Netanyahu on Sunday includes an increase in income and value-added sales taxes, new taxes and budget cuts, according to a Monday-morning report by the Yisrael Hayom daily.

      Tax increases being explored include those on gasoline, alcohol and cigarettes. A two-percent levy would be imposed on those making more than a million shekels a year. Most of the 10 billion shekels to be cut from the budget would come from the defense and transporation ministries.