Israel: The bill on increasing tax benefits for new repatriates approved in the first reading

The bill of deputies Alex Kushnir (NDI) and Vladimir Beliak (Yesh Atid) on increasing tax benefits for new repatriates was approved in the first reading.

Its main provisions are: 1) For the first 12 months after Aliyah, the new repatriate will have one annual preferential tax unit. 2) In the next 18 months – three preferential annual units. 3) In the next 12 months (from two and a half to three and a half years in the country) – two preferential annual units. 4) In the next 12 months (from three and a half to four and a half years in the country) – one preferential annual unit.

Each preferential unit is now equal to 2676 shekels per year.

MP Alex Kushnir (NDI) said: “Tax breaks for new immigrants are now very welcome. I am glad that the Knesset approved this bill. There are second and third readings left, and we will do our best to pass the law as quickly as possible.”

By Editor

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