Israel's Minister of Finance Moshe Kahlon unveiled his tax cut plan this afternoon through which he plans to give back NIS 4 billion in surplus tax collection to taxpayers. He calls the plan "The family net," which is aimed at helping "working Israeli families," and thus cutting the cost of living and reducing gaps between rich and poor.
The main elements of the plan include subsidies for afternoon education programs, more tax points for working parents, incentives and grants for people to go out to work, cancelling excise and purchase taxes on baby clothes, footwear, mobile phones and more.
Kahlon's press conference was attended by Israel Tax Authority head Moshe Asher, Head of the Budgetary Division Amir Levy, Deputy Finance Minister Yitzhak Cohen, planning and development head Eran Yaakov and Accountant General Rony Hizkiyahu.
Kahlon said, "Every finance minister has his world outlook and fierce arguments. But a finance minister is required to be ready to fight against powerful groups and not to be scared of criticism when they act."
He added, "In the past two years we have raised pensions for Holocaust survivors, and set up savings for every child, extended maternity leave, and raised senior citizens pensions. We also expanded the pensions to include Holocaust survivors from Iraq, Morocco, and Algeria."
"We have carried out a range of reforms led by the reform of the banks and credit card companies. These are actions and not talk. They asked where the money is? So here is the money. The government must make things easier not more difficult. There are taxpayers and today we are strengthening the middle class with our actions."
He added, "It is time to change direction so that more people move up rather than down."
Published by Globes [online], Israel business news - www.globes-online.com - on April 18, 2017
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