- Israel’s Ministry of Finance is considering hiking VAT to 18.5% from the current level of 17%
- The government has already approved raising VAT to 18% from January 1, 2025
- Minister of Finance Bezalel Smotrich presented plans for the 2025 budget, including measures like a freeze on public sector pay and higher income tax
- Smotrich aims to narrow the fiscal deficit to 4% of GDP, with the deficit currently at 8.1% of GDP
Source: en.globes.co.il
Join our Linkedin Group on ”VAT Rates – Legislative changes”, click HERE
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
