IDF reservists will be eligible for tax breaks, tuition aid, and preference on land tenders.
The cabinet today unanimously approved a bill of benefits for IDF reservists at today's meeting. The vote came after Minister of Defense Ehud Barak and Deputy Minister of Defense Matan Vilani compromised with the Ministry of Finance.
IDF reservists will be eligible for two income tax credit points, housing loans now offered to IDF regular NCOs and officers, priority in tenders for purchasing land in Israel Land Administration (ILA) tenders, and student loans and tuition aid. Reservists will also be eligible for a 25% discount on local property taxes, and discounts on the television fee and on the purchase tax for a new car. New immigrants are also eligible for this last discount.
Under the bill, the tax credits will amount to NIS 200 million by 2008, and will rise to NIS 450 million from the following year.
The IDF formulated the bill, which was approved by IDF chief of staff Lt.-Gen. Gabi Ashkenazi in coordination with Vilnai and the Ministry of Defense director general Pinhas Buchris.
Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2007
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