People who earn more than NIS 40,000 should pay a 5% surtax, and people who earn more than NIS 100,000 should pay a 10% surtax.
"The calculations are very clear: people who earn more than NIS 40,000 should pay a 5% surtax, and people who earn more than NIS 100,000 should pay a 10% surtax for a set period of two years. This will make it possible to lower the tax rates on lower income-earners, or cut VAT. An estate tax should also be levied. There is no reason why Israel should have this tax," said First Israel Mezzanine Investors Fund (FIMI) CEO Ishay Davidi at the "Globes"-BDO Ziv Haft Capital Market Conference in Tel Aviv yesterday.
Asked about Yair Lapid's performance as Finance Minister so far he said, "For someone who is six weeks in the job, it is premature to give a grade. I admire Yair Lapid, who left his job to enter the public sector. I strongly agree with the need to lower the deficit, which is critical for a country like Israel. My only comment about the budget is that it should hit the rich more than wage-earners and the middle class. People who work honestly and fairly can contribute more in the next 2-3 years."
Davidi was among the tycoons who backed Lapid before the elections.
Published by Globes [online], Israel business news - www.globes-online.com - on May 21, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013