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August 30, 2014 / 4 Elul, 5774
At a Glance

Posts Tagged ‘VAT’

VAT Tax Up

Sunday, June 2nd, 2013

Israeli VAT tax went up 1% to 18% on Saturday night. It’s now at its highest level in a decade. The government expects the tax hike will raise an additional NIS 4.4 billion a year in revenue, assuming the economy stays strong.

The price of gasoline also rose to NIS 7.52 for 95 octane. This is due to the rising price of imported gas.

The government found itself in a large deficit for two primary reasons.

It bet again on the viability of implementing a two year fiscal plan, but that didn’t work out as well as it did the first time around, when costs were higher, and revenue was lower than expected.

The second reason is that the government gave money away in the form of free dental care for children, free nursery school, and other perks, in response to the summer social protests, and now it has to pay for the debt those perks incurred.

Only 5,000 Showed Up, One Caped

Sunday, August 5th, 2012

A mass rally that was supposed to combine Social justice activists with the ‘Suckers Camp’ proved once again that there’s such a thing as too many rallies. Last night the Tel Aviv square looked very sparsely populated, despite organizers’ promises/hopes.

But whether or not this spells the end of this wave of rallies – the prime minister, his finance minister and the Israel bank governor made a compelling case for budget cuts, fuel, cigarettes and beer taxes, and imposing an extra point on the already high VAT – it’s clear that someone somewhere in Tel Aviv last night managed to turn on the bat signal.

A lot of good it did them…

Printed from: http://www.jewishpress.com/news/photos/only-5000-showed-up-one-caped/2012/08/05/

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