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Israel Finance Minister Approves Recommendations for Income Tax Cut

A series of amendments to Israel’s income tax law to reduce such taxes by two to six per cent, principally in the medium and high earnings brackets, was approved today by Finance Minister Pinhas Sapir for action by Israel’s Parliament.

The measure is expected to be ready for consideration when the Knesset resumes sessions next month. The tax cut proposals are in line with recommendations made by a special committee appointed last year.