- 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
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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.
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