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      Archive: 5/27/2013
      14:59
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      News Brief

        5/27/2013, Sivan 18, 5773

      Knesset Finance Committee Confirms VAT Hike


      By a margin of nine-to-five, the Knesset Finance Committee voted, Monday, to increase the value-added-tax from 17 percent to 18 percent, effective Saturday night at midnight.

      Committee Chairman Nissan Slomiansky said the hike was the last thing he wanted to see. He said he would create and head a subcommittee to examine a differential value-added tax, as is collected many places in the world, including members of the Organization for Economic Cooperation and Development.