The Ministry of Finance has canceled the plan to offset greater finances spending by not elevating of the ceiling for pensioners’ tax-free revenue, after “Globes” revealed the related clause within the Economic Arrangements invoice for the 2023-2024 finances.
The end result, which might have saved the state finances NIS 700 million yearly, would have price senior residents lots of of shekels month-to-month taken from pension funds. The tax exemption ceiling will now be raised from 52% of revenue to 67%.
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The cancellation of the federal government plan was introduced by Minister of Tourism Haim Katz after he reached an settlement with Minister of Finance Bezalel Smotrich.
Published by Globes, Israel enterprise information – en.globes.co.il – on March 19, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
