Director of the Tax Authority, Eran Yaakov, announced today that in order to help businesses in Israel, in light of the financial hardship they face due to the economic consequences of dealing with the coronavirus, the Tax Authority has conducted a special effort throughout last week and early this week, focusing on income and tax systems. As a result, tax returns amounting to approximately NIS 1 billion will be released by mid-next week.
As part of the concentrated effort, income tax credits totaling approximately NIS 750 million were released to approximately 16,000 individuals and companies that had refunds under review.
Some of the funds have gradually entered the bank accounts as of last Wednesday while the move comes to an end today (Monday) with the reimbursement of additional significant amounts into the bank accounts.