News Briefs

  11/13/2013, Kislev 10, 5774

Netanyahu and Lapid to Look into Tax Cuts

Prime Minister Benyamin Netanyahu and Finance Minister Yair Lapid are expected to meet within the next few days to discuss the possibility of tax cut following the success in the freeing up of non taxable revenues, which brought in NIS 4.38 billion to the State.

According to a report in Israel Today, Lapid had already requested of Finance Ministry General Director Yael Andorn, Budget Director Amir Levy, and Director of the Tax Authority Moshe Asher to look into options on the matter. The Treasury will be looking at, amongst other things, freezing income tax increases by 1%-2%, and reducing the Value Added Tax back to 17%.

The Finance Minister's office responded saying that "No such meeting had yet taken place.  The data is still being evaluated before it can be determined whether or not taxes can be reduced."