Prime Minister Benjamin Netanyahu announces that the country will lower the sales tax from 18 percent to 17% and the corporate tax from 26.5% to 25%.
In a joint press conference with treasurer Moshe Kahlon, Netanyahu says the move is designed to act as a “growth engine.”
“We believe in you, we believe in the free market, we believe in freedom,” Netanyahu says.
The move, which will cost the state between NIS 4.5 billion and NIS 6 billion according to different estimates, will go into effect October 1.
Bank of Israel governor Karnit Flug immediately lodges her disapproval of the plan, Channel 2 news reports.
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From the Liveblog of
Thursday, September 3, 2015
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