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. Netanyahu Calls For Competitive Taxation In Israel

Netanyahu Calls For Competitive Taxation In Israel

by Lorys Charalambous, Tax-News.com, Cyprus

14 December 2010


Israeli Prime Minister Benjamin Netanyahu has said that Israel should introduce a system of competitive taxation to strengthen the country’s economic position.

Speaking at a financial convention in Tel Aviv, the Prime Minister added: “We shouldn't demand higher taxes than other countries, we should reduce taxes as much as possible. This principle is always true – especially during the period of globalization, when companies can move their factories overseas with the press of a button”.

He said that a growing economy is an economy in which you invest, and promised to cut the company tax rate to 18% in 2016 from the current level of 26%. “We'll cut taxes and then we'll achieve the growth needed for the handicapped, the elderly, the Holocaust survivors, and the education system," he said.

He also said that what many countries have forgotten is to not allow government spending to exceed its income. “We've set rules that other countries are now forced to set, and we did it back in 2003,” he said. “Keeping the fiscal framework is critical and cannot be avoided, just as a household or business cannot avoid it. This may be one of the strongest lessons of the recent decade. If you want more defense, education, and welfare, you have to cut something else. There's no free money.”

TAGS: tax | business | fiscal policy | corporation tax | Israel | tax rates

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 »