26.07.2012 07.Aw. 5772
Israel Tax Authority and Justice Ministry are busy preparing new legislation to crack down on tax cheating, which they hope will increase tax revenues by NIS 2 billion in 2013.
Finance Minister Yuval Steinitz raised taxes on cigarettes and other tobacco products last evening. Smokers will be adding about NIS 1 billion to state tax revenues after Steinitz signed the new regulations on Wednesday. and a packet of cigarettes will cost NIS 2.50 to NIS 3 more. Steinitz also levied a 10% tax on existing cigarette inventories held by businesses….