Minister of Finance Yair Lapid proposes amending the zero VAT bill to include residential projects under National Outline Plan 38 (earthquake retrofitting). The amendment appears in a draft of the bill published today for public comments. Lapid accepted a recommendation by the Israel Tax Authority and Israel Builders Association to include National Outline Plan 38 projects in the zero VAT plan. "The change will allow service providers in these areas to deduct the inputs tax in invoices issued to them for retrofitting services, thereby increasing the worthwhileness of these projects," said the Tax Authority. Published by Globes [online], Israel business news - www.globes-online.com - on June 17, 2014 © Copyright of Globes Publisher Itonut (1983) Ltd. 2014
