Subscribe to Print Edition | Tue., April 08, 2008 Nisan 3, 5768 | | Israel Time: 10:44 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File

Bank of Israel Governor Stanley Fischer. (Archives) Last update - 02:54 08/04/2008 Gov't mulls marking Israel's 60th anniversary with tax cut By Moti Bassok, Haaretz Correspondent Tags: Finance Ministry  The Prime Minister's office and the Finance Ministry is examining the possibilities of implementing a tax reduction beginning on Independence Day as a gesture to Israel's residents in honor of the state's 60th anniversary. The plan would call for lowering the sales tax from 15.5 percent to 15 percent and an additional income tax reduction for the years 2008 to 2012, to be announced later. The Tax Authority is reportedly more interested in a regressive tax, which would favor greater tax relief for the stronger economic sectors of society. Advertisement A temporary sales tax would be a relatively easy move for the state to absorb, with a 0.5 percent sales tax estimated to cost the state only NIS 1.5 billion in annual revenue. The tax reduction has been discussed feverishly in the Treasury and the PMO, with Bank of Israel Governor Stanley Fischer also consulting both offices on the feasibility of the move. The main considerations against the move are fears that it will drastically affect the state's ability to meet tax collection goals of NIS 190 billion for 2008, as well as the reported opposition of the Bank of Israel. Related articles: PMO prepares 2009 budget without consulting Finance Ministry Treasury D-G envisions Israel becoming Singapore of Mideast Bookmark to del.icio.us   In his father's memory Gilad Sharon's son plans to write his father's memoirs as he lies in a coma. Jammed FM Police close an English radio station which encourages Israeli-Palestinian dialogue.   1.   Tax cuts only for the rich! 22:43  |  zznhl 07/04/08   2.   Massive Tax Cut With Incentives to Hybrid Cars Buyers 02:03  |  Joseph . E 08/04/08   3.   Arab League Should Mark Israel`s 60th Anniversary With Tax Cut 02:11  |  Joseph . E 08/04/08   4.   Better use for the money 07:10  |  Miche norman 08/04/08

Today Online Bradley Burston: I want the Palestinians to win Responses: 26 Rosner: Evangelist to Yoffie: 'I'm not trying to undermine peace' Responses: 23 Moshe Arens: Making Palestine Judenrein Responses: 6 Barghouti peace overture to be read at Peace Now rally Responses: 8 Rosner's Domain New Guest: US should revoke support for Palestinian state Pastor Hagee vs. rabbi Yoffie, round two (WTR) New poll: Yoffie or Hagee - you can vote! The popular Condi Rice (WTR) What is worth fighting for? More Headlines 10:02 Sirens sound as IDF carries out largest civil defense drill ever 09:02 Vice PM: Ofra settlement homes built on private Palestinian land 03:28 Evangelist to Yoffie: 'I'm not trying to undermine peace' 10:14 Ex-chief justice: Friedmann reforms will make Israel third world country 06:39 Gaydamak, Pensioners poised to form new Knesset faction 09:26 Barghouti peace overture to be read at Peace Now rally 08:48 Gazans turn to black market to overcome gasoline shortage 02:36 Opposition to national service in Israel's Arab sector is bitter 03:44 Court extends remand of sixth suspect in case of abused Jerusalem toddlers 05:36 Report: Settlement planned for Gush Katif evacuees likely to damage nature preserve Previous Editions Select Day 07 apr 06 apr 04 apr 03 apr 02 apr 01 apr 31 mar 30 mar 28 mar 27 mar 26 mar 25 mar

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