Tax Authority chief: We're NIS 2b from collection target

Eran Yaacov Photo: Rafi Kutz

The 2019 target was NIS 317 billion, but "if we collect NIS 315 billion, it will be a great achievement."

"We're NIS 2 billion behind the tax collection target. We'll be at the bottom end of the target, but as far as I'm concerned, NIS 2-3 billion more or less is the same as hitting the target," Israel Tax Authority director general Eran Yaacov said today at a conference of the Association of Insurance Brokers and Agents in Israel in Eilat. He stated, "The target set for the Tax Authority in the current year is collecting NIS 317 billion, and the way it looks now, if we collect NIS 315 billion, it will be a great achievement."

In a macroeconomic lecture to the brokers and agents at the conference, Yaacov also commented on the tax burden in Israel, saying, "We want income tax to reduce inequality in income distribution in the economy. We also want economic growth to continue and not leave all of us, because it's part of what keeps us alive."

Yaacov also referred to taxation of vehicles. "Over NIS 40 billion - that's how much tax revenue we get from taxes on vehicles and fuel," he said, adding, "This is a phenomenally large figure. Taxes on fuel are very high, but we kill two birds with one stone: we tax a product that causes accidents and harms people, and we don't have to raise taxes in other places, such as corporate tax and taxes on individuals. Fuel in Israel is taxed at a high rate, but emissions from vehicles kill over 3,000 people a year, according to the Ministry of Health's figures. This is significant and costly, and should be reflected in the tax."

Published by Globes, Israel business news - en.globes.co.il - on November 20, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Eran Yaacov Photo: Rafi Kutz
Eran Yaacov Photo: Rafi Kutz
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018