Ministry of Finance unveils plans to cut VAT by 1%

The reduction, if approved, will reduce the state's annual tax revenue by NIS 3.3 billion.
19.06.06 / 00:00
Finance Minister. Hirchson
19.06.06
Finance Minister. Hirchson
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The reduction, if approved, will reduce the state's annual tax revenue by NIS 3.3 billion.
 
Sources at the Ministry of Finance said late last week that Finance Minister Abraham Hirchson intends to present a proposal to Prime Minister Ehud Olmert to lower value-added tax by 1%, from 16.5% to 15.5%.
 
The reduction, if approved, will reduce the state's annual tax revenue by NIS 3.3 billion.

 

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