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Israeli Gov't Agrees New VAT Breaks

by Lorys Charalambous, Tax-News.com, Cyprus

17 November 2015


The Israeli Government has agreed to include value-added tax breaks for low-income earners in the 2016 Budget.

Providing the plans are approved in their current state, from January 1, 2016, Israel will levy a zero percent rate on public transport and basic foodstuffs, such as milk and bread.

The announcement comes just over a month since Israel lowered its headline rate from 18 percent to 17 percent, from October 1, 2015.

TAGS: VAT rates | tax | value added tax (VAT) | Israel | food | tax breaks

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