Prime Minister Binyamin Netanyahu and Finance Minister Moshe Kahlon announced last week value added tax (VAT) will be lowered by one percent, from 18% to 17%. They also announced the lowering of cooperate taxes from 26.5% to 25%.
The two explained that in order for an economy to thrive, taxes must be lowered. The prime minister explained that the state has an excess amounting in the billions of tax funds and therefore the decision has been made to give the money back in the form of lowering taxes.
The two senior ministers are hopeful the lowering of the taxes will stimulate increased spending by citizens and corporations alike.
(YWN – Israel Desk, Jerusalem)
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2 Responses
Wow! Let’s dance!
So mow, instead of paying 18% on EVERYTHING including milk, bread, eggs, baby formula etc. they’ll only pay 17%.
And we ought PARTY!!!
Still disgraceful that yhe most basic of necessities are also taxed 17%.
Let’s not forget also that gasoline is about $8.00 a gallon!
don’t bother telling us when it will take effect, that would be too much for us…