The Israeli Government has raised value-added tax rate (VAT) to 18% from 17%. In the light of the growing budget deficits
Online PR News – 05-June-2013 – 1250 Oakmead Parkway, Suite 210 Sunnyvale, CA 94085, U.S – (Sunnyvale, CA)- The Israeli Government has raised value-added tax rate (VAT) to 18% from 17%. In the light of the growing budget deficits, the Israeli Tax Authority expects to generate more revenue from the increase in tax and close the widening gap, says Nair & Co.’s International Tax Consulting Team.
It’s the third time, after introduction of VAT in 1976 that the government has raised the limit to a record rate of 18%. Historically, it has been raised to such level during times of economic difficulties.
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