The draft financial preparations invoice, which will probably be hooked up to the 2025 funds, units out the Ministry of Finance’s deliberate reforms for subsequent yr. The draft invoice contains important measures within the fields of finance, actual property, authorities firms and extra. The draft doesn’t embody any information taxes to be included within the 2025 funds, such because the freezing of revenue tax brackets and Nationwide Insurance coverage pensions and allowances, which will probably be promoted individually.
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A particular tax on banks
The draft financial preparations invoice proposes {that a} committee be established to look at the imposition of a particular tax on the banks in 2026 due to the banks’ excessive income. This follows a particular fee imposed on them in 2024 and 2025 totaling NIS 2.5 billion.
Ashdod Port privatization
Within the draft financial preparations invoice the Ministry of Finance has revealed that it plans main the privatization of Ashdod Port. An inter-ministry committee will probably be set as much as promote the sale of the shares in Ashdod Port. The committee will submit its proposal for the privatization to Minister for Regional Cooperation David Amsalem inside 60 days and he’ll deliver the proposal to the ministerial committee on privatization inside 90 days.
The financial preparations invoice additionally proposes that minister shouldn’t be allowed to intervene on the distribution of dividends by authorities firms and proposes amending the Authorities Firms Legislation with a view to streamline the distribution of dividends to state coffers.
One other proposal is to regulate the varsity week to 5 days from six days within the state college system, in order that the varsity week matches the work week. Such a measure would additionally assist the schooling system deal with a scarcity of academics.
The draft financial preparations invoice additionally proposes closing 5 of the 31 authorities ministries, with the 5 ministries deemed superfluous. The invoice additionally proposes tighter Ministry of Finance controls over the protection funds, specifically relating to salaries and pensions and mega umbrella agreements with municipalities for quicker development of housing.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on September 22, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
