Regev doubles Olympic prize money after heavy tax

After Sports Minister Miri Regev failed to cancel tax on Olympic prize money, she searched for other options to reward her athletes.

Tal Polon,

Miri Regev
Miri Regev
פלאש 90

After the Tax Authority notified Sports Minister Miri Regev that the heavy tax on Israeli Olympic athlete's prize money would continue, Regev found a new way to make sure the Olympians get their just desserts - by simply awarding them more prize money.

"I am determined to reward and incentivize Israeli medalists for future years of investment and effort," Regev explained.

Within the context of Regev's decision, medalists will be awarded additional prizes that will add to the prizes from the Office of Sport and the Olympic Committee which are already in place - but these prizes will not be subject to the heavy 50% tax that the already-existing prizes are.

This will effectively double medalists' prize money.

The decision to add prize money comes after Regev's unsuccessful attempt to cancel the tax on medalists' prizes.

With the advent of the latest decision, Regev explained the importance of showing appreciation for Olympic athlete's efforts.

"Our athletes deserve a significant show of thanks for their contribution to the State of Israel," she said.




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