Israel to raise taxes in 2020!
Following the last elections, can we expect a tax increase in Israel in 2020?
It's been said for several months now that the State of Israel's coffers are in deficit. And as always, taxpayers risk paying the price.
Nathaniel Drayof the firm Dray & Dray - Accounting firm in Israel. presents the various options available to the Israeli tax authorities for raising taxes in Israel in 2020 at the microphone of Israeli public radio Kan, via Yoram Salamon.
Podcast - Tax increase in Israel in 2020:
- The causes of Israel's fiscal deficit in 2020: geopolitical situation, elections...
- Why weren't taxes raised before?
- Will the new government have an easy task? Or at least not!
- What will change in 2020?
- Passive and active income concerned by the increase.
- Active taxes: personal and corporate income.
- Taxes not appreciated by the general public The Maam (VAT in Israel).
- The increase in corporate income tax is well received by the general public, but risks generating a "tax bite". inflation and therefore higher prices in Israel.
- A promotion on dividend distribution in Israel (as in 2017)?
- Where does the Israeli tax stand in relation to the rest of the "Western world"?
- "The shared economy" (Airbnb, Booking, UBER) in the sights of the Israeli tax authorities.
- Towards mandatory tax returns for all taxpayers, as in France?
Your questions - Our advice
- How to declare your shared income (Airbnb, Uber, online sales, Fiverr, etc.).
- How can the Israeli tax authorities tell if you have split income?
- The Maanak Avoda at risk? Will low-income earners also have to contribute to making up the state deficit?
- Other possibilities open to the Israeli tax authorities: cancellation of VAT at 0% in Eilat or for hotel services, VAT at 0% for exports of goods and services called into question, reduction in social benefits, etc...