Skip to comments.13% tax break for settlements (within Israel proper) bordering Gaza Strip
Posted on 01/19/2005 2:17:34 PM PST by anotherview
Zeev Klein 19 Jan 05 13:58
Minister of Finance Benjamin Netanyahu today announced that residents in areas adjacent to the Gaza Strip would soon receive a 13% tax break, similar to the tax break given to residents of Sderot.
The ministerial legislation committee this week approved Netanyahu's proposal to grant a 13% tax credit, up to a ceiling of NIS 129,840 a year, for residents of communities adjacent to the Gaza Strip. A draft bill will shortly be sent to the Knesset for its first reading.
The tax credit will be granted to residents of communities within seven kilometers of the Gaza Strip.
Published by Globes [online], Israel business news - www.globes.co.il - on January 19, 2005
pinging the pingers
My jaw dropped when I had a discussion about income tax with Israeli acquaintances. But it was a few years ago.
Pretty much the highest maximum tax rate in israel is 49% on income over ~NIS 34000 a year.
The 13% tax break makes the area one of the lowest taxed areas in the Western world. Probably incentives for moving there too, low or no interest government backed home loans and such.
But, where are the jobs?