Israel Approves Fuel Tax Cut Amid Election Concerns
Israel's Attorney General has approved a proposal by Finance Minister Bezalel Smotrich to reduce the excise tax on fuel by half a shekel per liter. The move is expected to lower the price of gasoline to NIS 7.75 per liter from the current NIS 8.25, with the change anticipated to take effect early next week.
The primary legal hurdle for the tax reduction was its timing, occurring close to an election. Government guidelines stipulate that a government in an election period must exercise restraint regarding matters that are not urgent. The tax cut faced scrutiny as potentially being 'election economics' because it contradicted the positions of key professional bodies within the Finance Ministry, including the Chief Economist's office, the Budget Division, and the Tax Authority.
The decision now requires the publication of the order for public comment before Smotrich can officially sign it. Further details on the matter are expected to be released later.
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