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.”