The Israeli State Council last night adopted a new income tax bill which has aroused a storm of protest in some circles since it was first proposed three weeks ago by Finance Minister Eliezer Kaplan.
The program, based on the principle of progressive taxation, is the stiffest ever to be introduced since the beginning of the Mandatory administration. In his final appeal for adoption, Kaplan last night told the Council that it was a necessary war measure, emphasizing that the present “cold war” in effect during the truce is as expensive as war on the battlefield On the final vote, 23 members of the Council voted for the bill, three against and six abstained.
Twenty-one million Israeli pounds ($84,000,000) in currency has been put into circulation during the first four months of the Jewish state, it was announced hero. All but 2,000,000 pounds were issued in exchange for Palestine currency issued by the Mandatory administration.
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.
