As the Knesset gets down to work for its winter session, which began yesterday, several pieces of new legislation are under consideration. Of interest to new immigrants, the Yisrael B'Aliyah party will be introducing two bills to amend the tax laws passed by the Knesset last July. The proposals do not challenge the concept of taxation on capital gains, but rather call for exemption of all funds accumulated in all types of retirement funds prior to one's immigration to Israel, as well as a ten-year "adjustment period" on all other forms of passive incomes from abroad.
The party's executive-director Eli Kazhdan explained that in light of promises that have always been made to new immigrants to Israel, the existing new laws represent a "breach-of-contract" with them, and will lead to both a decrease in immigration and an increase in emigration. "We know this," he said, "from the thousands of signatories to our tax petition, from the hundreds of letters and emails we’ve received, and from the dozens of meetings we’ve held around the country with immigrants and potential immigrants..."
The party's executive-director Eli Kazhdan explained that in light of promises that have always been made to new immigrants to Israel, the existing new laws represent a "breach-of-contract" with them, and will lead to both a decrease in immigration and an increase in emigration. "We know this," he said, "from the thousands of signatories to our tax petition, from the hundreds of letters and emails we’ve received, and from the dozens of meetings we’ve held around the country with immigrants and potential immigrants..."