Daily Israel Report
13:10
Reported

News Brief

  8/6/2012, Av 18, 5772

Hike in Income Tax Only Above NIS 14K a Month


Prime Minister Binyamin Netanyahu and Finance Minister Yuval Steinitz reached agreement, Monday morning with Chairman Haim Katz of the Knesset Labor, Welfare and Health Committee to eliminate a proposed one-percent increase in income tax for people earning between 8,881and 14,000 shekels a month.

If approved by the Knesset, the income-tax brackets will be adjusted so that the bracket that currently starts at NIS 14,400 will start at NIS 14,000 and the bracket that starts at 21,800 shekels will start at 20,000 shekels.