Bank of Israel on success of tax reforms
An excerpt from the Bank of Israel's 2010 Annual Report, published on Wednesday, said a 2004 government policy to reduce direct taxes on labour had facilitated growth without leading to an increase in costs to employers.
In 2004, the Israeli Government implemented a long-term programme to reduce the direct taxation on labour, which caused the average tax rate to fall sharply from 32% in 2001 to 23% in 2010. The report said while the average real gross wage was currently lower than it was in 2001
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