Israeli Tax Authority did a good job in 2015. Israel state treasury got from taxes more than 85 billion NIS - an increase of 10% compared to 2014.
More tax revenues means more money for health & social welfare, education, infrastructure and much much more. But these numbers also reflect that Part of the money is over collection of taxes from employees.
The last state offical report stated that Israeli citizens give up annually a total of almost a billion NIS.
Almost every third employee in Israel is entitled to a tax refund - a significant portion of the employees in Israel are paying more taxes than necessary.
How such huge gaps in tax collection are created? And why most employees waive their rights and do not claim what really belongs to and deserve?
Both employees and their employers tend to make mistakes regarding tax calculations. The result is tax overcharge from salaries. Tax authorities aware of the fact that they collect overcharges but not act on their own initiative to return the money.
Unlike the United States, for example, employees in Israel do not file an annual income statement. Therefore, the Finance Ministry has no way of knowing how much of their income comes from wages, financial assets and capital gains.
Did you know that 80% of all employees in Israel deserve a tax refund?
In recent years, tax refunds have become common, and rightly so. More and more employees are turning to tax consultants for demanding tax refund for previous tax years, and discover to their surprise that they are entitled to large sums.
Modern relationship – Modern economic challenges
Modern relationship, the more so, very challenging us.From my experience I see that women and men are have different approaches regarding treating money. In modern society there is a desire of both p...
Israeli Tax returns – all the info
Probably you have noticed that money from your salary goes to the IRS. The tax is the money that your take in orde to provide all the necessary services.
