Israel: Decree to abolish excise tax on sugary drinks published for filing protests

The Internal Revenue Service, at the behest of Finance Minister Bezalel Smotrich, issued a decree to file protests to abolish the excise tax on sugary drinks introduced by previous Finance Minister Avigdor Lieberman.

The cost of the decree, which should come into force in 10 days, for the state treasury is 870 million shekels. Funds to compensate for the loss of income will be taken from the proceeds from the property purchase tax, which should have been transferred to the war damage compensation fund.

According to economists, during the excise period, the consumption of sugary drinks in general in liters decreased by 12%, and sugary drinks with a high sugar content – by 16%.

Recall that the abolition of excise taxes on sugary drinks and disposable tableware was one of the important coalition demands of the ultra-Orthodox Yaadut HaTorah and Shas parties.

By Editor

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