Archive: 4/24/2014
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  4/24/2014, Nissan 24, 5774

Small Provident Funds to Be Withdrawn Tax-Free


From this morning (Thursday) on, banking customers will be able to withdraw small provident funds of up to 7,000 shekels without being charged tax on the transaction.

Bank managers are slated to notify their customers of their eligibility to withdraw small provident funds tax-free by the end of the month. They are also to instruct their customers vis-à-vis how to withdraw the money. This, in order to make the management of small funds more efficient.