CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Israeli Finance Ministry Has Tax Contingency Plan, Says Report

Israeli Finance Ministry Has Tax Contingency Plan, Says Report

by Robert Lee, Tax-News.com, Hong Kong

20 December 2001


According to reports this week in the Israeli media, the Ministry of Finance has prepared a contingency plan in case ministers reject its proposals to implement an across-the-board 2% cut in current spending.

The plan, according to Israeli newspaper Globes, includes the introduction of a new tax bracket, the raising of the ceiling on national insurance payments, and a health tax for the country's wealthiest citizens. It is understood that no decision has yet been reached on whether new taxes will be imposed on those earning more than NIS 50,000 per month. According to the paper, however, the Finance Ministry has strenuously denied the existence of any such plans.

Although there is due to be a special debate on the state budget today, Globes reporter Zeev Klein remained uncertain as to whether the Ministry's contingency plan would come to light in that context. The Prime Minister's office is reportedly wary of introducing any new taxes in the current economic climate, particularly on wealthy taxpayers.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »