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Israel Tax Authority Proposes Aggressive Tax Hikes for Next Government
Israel's Tax Authority is proposing aggressive tax measures, including "VAT Online" and a property tax on undeveloped land, to boost state revenue by about 10 billion shekels annually. Director Shi Aharonovitch revealed the plans, which also address purchase tax on investment apartments and a new travel tax.
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What happened
- 01Israel's Tax Authority plans aggressive tax measures to raise 10 billion shekels annually.
- 02A "VAT Online" system aims to collect VAT immediately upon transaction.
- 03A new property tax on undeveloped land is proposed to encourage development.
- 04The purchase tax on investment apartments is set to drop significantly in February 2027.
- 05A travel tax is proposed, potentially generating 1.1 billion shekels yearly.
- 06Tax Authority Director warns against further elections, citing economic risks.
He urged the formation of a stable government to pass the 2027-2028 budget, warning that delays would hinder economic reforms.
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