World Jewish News

On unanimous decision of members of the Knesseth Commission on aliah and absorption the bill about 10-years tax exemption of for

The Commission of Knesseth on aliah and absorption had a session concerning the taxation of money transfers to, so-called, "currency accounts of new repatriates". Till now any money transfers from abroad to the accounts of new repatriates were free of tax during 30 years. At acceptance of the emergency program on economy improvement, since January 1, 2003, the government intends to assess taxes reaching 30 % to accounts of the repatriates living in the country for more than 5 years.
The Chairman of the Commission, deputy Tsvi Handel (NDI-Ihud-Aleumi) suggested giving new repatriates a tax privilege, at least during 10 years. However, the government, being based on the doubtful data that possible cost of this bill would exceed 5 million shekels and, considering restriction of the individual legislation, has actually acted against, having demanded participation of more than 50 deputies.
The Chairman of parliamentary fraction "Demvybor", deputy Alexander Tsinker, has declared during the session of the Commission: "There appears the impression, that our right hand does not know what the left does. On the one hand, for aliah increase, just yesterday, we made the decision to pay a basket of absorption to all repatriates, regardless of origin country and financial position. On another, we want to set taxes on their money savings and pensions received from abroad"
"Our fraction", Alexander Tsinker has told, "has supported the bill of deputy Handel in preliminary reading. We, certainly, further shall vote pro. I hope, it will get support of all fractions which structure includes representatives of new repatriates".
On unanimous decision of members of the Commission, the bill of 10-years tax exemption of foreign transfers to new repatriates has been recommended for the first reading.

Источник: Jewish.ru