Israel Finance Ministry Proposes 50-Agora Fuel Tax Cut
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Original source:maariv.co.il
Key Takeaways
- Finance Ministry proposes a 50-agorot excise tax cut on gasoline.
- The measure aims to keep fuel prices at 7.85 NIS per liter.
- The order is currently open for public comment.
- The move offsets a planned price increase scheduled for November 4th.
To ease the financial burden on citizens, the Israeli government is moving to lower fuel costs through a temporary reduction in excise taxes. The proposed tax cut of 50 agorot per liter aims to offset a projected price hike that was set to take effect on November 4th.
Currently, a previous tax relief measure remains in force until early November. The new order, which is subject to public review, seeks to stabilize fuel prices at 7.85 NIS per liter, providing a buffer against market fluctuations for Israeli drivers.
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