The Knesset passes a law to increase taxes to finance the needs of Bituah Leumi

Knesset members are discussing a bill to increase the Bituah Leumi tax from 4.8% to 6.4% for employees. The initiative of the Ministry of Finance involves the adoption of the law for two years with the possibility of extension in the event of a crisis caused by military operations in Gaza and Lebanon.

The tax increase will bring the treasury 34.7 billion shekels over two years, as well as another 7 billion from the VAT increase. The new measures are aimed at increasing government revenues and providing funding for social protection.

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