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Jerusalem, 7 March 2000
Government Tax Revenue in February: NIS 11.9 Billion
(Communicated by the Finance Ministry Spokesman)
The Finance Ministry today (Tuesday), 7.3.2000, stated that total
government revenue from taxes and fees was NIS 11.9 billion in February,
compared to NIS 9.7 billion in February 1999, a 20% increase in real
terms. Although extreme care must be taken regarding monthly revenue
figures and their significance regarding economic activity, the January
and February revenue figures point to accelerated economic activity that
began in the second half of 1999. The Finance Ministry expects further
increases in revenue over the coming months.
The Finance Ministry notes that income tax revenues in the first half of
1999 were negatively affected by the erosion in corporate profits at the
end of 1998 due to the sharp devaluation in the Shekel at that time and
a delay in the issuing of advance tax payments forms in early 1999.
However, in 1999 overall, income tax collection rose by over 2% in real
terms, which also affected the rise in revenues at the beginning of this
year.
Revenue from income and land taxes were NIS 7.3 billion in February
33% higher than in February 1999. Revenue in the past three months is
23% higher than in the comparable period a year ago. Revenue from VAT
and customs was NIS 4.3 billion in February, 2.6% higher than in
February 1999. Revenue from government fees was 27% higher in February
2000 than in February 1999.
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