The October 7 war has affected the Israeli economy due to IDF reserve duty, frontline evacuations, and higher taxes needed, so what do you need to know?
YOUR TAXES: The MLI deals with income taxation, which is referred to as direct taxation. On top of that, most countries have indirect taxes, such as VAT or GST.
Rewire by Remitly eliminates fees for money transfers from Israel to 130+ countries, making international remittances more affordable for migrant workers and students.
As part of the 2025 budget tax package, the Knesset passed an amendment that expands and increases what is sometimes known as the “Rich Man’s Tax” on high-income taxpayers.
"Growth in Israel is relatively high and the deficit is expected to decline and is significantly lower than most of the Western world," said Mizrahi Tefahot regional financial advisor David Shelly.
Bank of America published a forecast about the Israeli currency. The bank's analysts expect the shekel to continue to strengthen if the ceasefire agreements are fully implemented.
Your taxes: Israel is an OECD member but is not a covered jurisdiction for Amount B purposes. So the Israeli Tax Authority may not accept Amount B calculations from Israeli importers and exporters.
The provisional budget is much lower than the proposed budget for 2025, and it is impossible to continue to function over time without passing the 2025 budget, the accountant-general said.