The bill now moves on to the Knesset Finance Committee.
The changes already made include raising the eligibility threshold for applicants who did not serve in the IDF or National Service from NIS 600,000 to NIS 950,000, and eliminating the eligibility document. The revised bill also sets September 1 for the law to come into effect.
The bill is also opposed by Bank of Israel Governor Dr. Karnit Flug who fears that much of the savings in 0% VAT will not find its way into the buyer’s pockets.
Published by Globes [online], Israel business news – www.globes-online.com – on June 16, 2014
* The big question is, who will it benefit?