Prime Minister Benjamin Netanyahu and Finance Minister Dr. Yuval Steinitz, agreed with Knesset Labor, Welfare and Health Committee Chairman Haim Katz on cancelling the 1% hike in income tax for those earning NIS 8,881-14,000.
It was further decided that the following tax brackets will updated: The NIS 14,400 bracket will be lowered to 14,000, and the NIS 21,800 bracket will be lowered to NIS 20,000.