The draft of a tax law under which persons earning $20,000 a year would have to pay $12,000 in taxes was submitted for approval today to the State Council by Finance Minister Eliezer Kaplan.
The law, which embodies the principle of progressive taxation, also provides for the issuance of a compulsory national loan. Both measures are expected to yield from 40 to 48 million dollars annually. The heaviest tax will be imposed upon war profits.
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.
