- The cabinet approved Finance Minister Smotrich’s order raising the VAT exemption on personal imports from $75 to $150.
- The order allows citizens to import up to $150 in goods without paying the 18% VAT, aiming to increase competition and lower prices.
- The Knesset is set to vote on overturning the order, which is unusual for ministerial decisions.
- The measure is popular with the public but opposed by local business owners and some Likud MKs, who argue it harms local businesses and benefits foreign companies.
- Critics accuse Smotrich of pursuing populist policies ahead of elections.
Source: timesofisrael.com
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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