6 August 12 12:35–Prime Minister Benjamin Netanyahu and Minister of Finance Yuval Steinitz today agreed with Knesset Labor, Welfare and Health Committee chairman MK Haim Katz (Likud) to cancel the planned income tax hike on the third tax bracket of NIS 8,881-14,400 a month. Instead, they lowered the fourth and fifth tax brackets, with the result that the blow to the middle class will be even greater.

The Ministry of Finance will lower the fourth tax bracket threshold, which pays 31%, from NIS 14,400 to NIS 14,000. The fifth income tax threshold on which 34% is paid will be lowered from NIS 21,800 to NIS 20,000…Read More>>

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