Finance minister slaps extra taxes on luxuries
Higher tariffs on private planes, luxury cars, yachts and other items expected to increase annual revenues by NIS 110 million
Add ToI as a Preferred Source on Google
Illustrative photo of boats docked at the Tel Aviv marina (photo credit: Moshe Shai/Flash90)
Finance Minister Yair Lapid on Thursday signed a directive that will increase the taxes Israelis pay on luxury items.
Beginning next Sunday, the luxury tax on all-terrain vehicles (ATVs) and sport utility vehicles (SUVs) will rise from 30 percent to 50%.
The directive will also affect large-screen televisions (over 50 inches), private aircraft, yachts, jet skis, furs, antiques and luxury cars worth more than NIS 300,000 ($84,000).
The move is expected to increase annual tax revenues by NIS 110 million ($31 million).
read more:
If you’d like to comment, join
The Times of Israel Community.
The Times of Israel Community.
JOIN THE TOI COMMUNITY
Already a member? Log in here