News Briefs

  6/30/2014, Tammuz 2, 5774

Law Authorized to Limit Salaries of Top Execs

The Ministerial Law Committee on Sunday authorized for legislation a law that would limit the salaries of top executives of companies in the private sector. Executive salaries, under the law, will be limited to NIS 3.5 million ($1 million) a year. Any sum beyond that will not be considered income, and will be taxed at a higher rate.