A 20 per cent capital gains tax on profits on securities sold within a year of the date of purchase, effective immediately, was announced today by Finance Minister Pinhas Sapir. The tax is not applicable for foreign residents.
Previously there had been no tax on such profits in Israel. The tax will be deducted at the source in accordance with an agreement between Israeli banks, the Israel Stock Exchange and the Treasury.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
