Ministerial panel gives nod to cap on executive pay in finance sector
Annual wages above $1 million would lose tax deductions under bill proposed by Finance Minister Yair Lapid.
The Ministerial Committee for Legislation approved on Sunday a bill designed to rein in executive salaries in the finance sector. The draft law, introduced by Finance Minister Yair Lapid, prohibits deductions for annual compensation in the field, including bonuses, in excess of 3.5 million shekels (about $1 million).
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