Archive: 11/21/2013
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  11/21/2013, Kislev 18, 5774

Income and Corporate Taxes Not Expected to Rise


The daily newspaper Maariv has reported that despite the opposition of the Treasury and the Bank of Israel, income taxes and corporate taxes are not likely to go up in January as was expected,

According to the report, Prime Minister Benyamin Netanyahu wants to avoid raising direct taxes (e.g., income, corporate, land appreciation) - following a reduction of the deficit - which will lead to a long-term reduction of income and corporate taxes, respectively.

He is thus expected to determine within the next couple of weeks on one of two options: to cancel a rise in income and corporate taxes this coming January, or alternatively, reduce the percentage of the Value Added Tax (VAT), and reduce the deficit and the government debt.