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Article: Hirchson presents tax, pension reforms: The measures include mandatory pensions and an earned income tax credit.
- Article from:
- Globes
- Article date:
- January 29, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Dubi Ben-Gedalyahu, Zeev Klein and Dalia Tal
Jan. 29--Minister of Finance Abraham Hirchson today announced a new socioeconomic program. The program is aimed at "to narrow social gaps and increase participation in the labor force." The program's centerpiece is a mandatory pension for every worker. The program also include an earned income tax credit (negative income tax), higher tax brackets for middle income-earners, stricter enforcement of labor laws, and higher use value on company cars.
The use value of company cars will double within three years. Hirchson accepted in full the recommendations of the expert team to sharply raise the value use ...
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