Half a Billion Shekels in Tax Refunds on the Way

YERUSHALAYIM -
At the entrance to the Tax Authorities offices in Yerushalayim. (Olivier Fitoussi/Flash90)

Tax authorities don’t only take, they also give back.

The Israel Tax Authority (ITA) head Eran Yaakov announced on Wednesday that some 511 million shekels are being refunded to thousands of Israeli businesses.

The decision was in response to the financial hardship suffered in the private sector due to three coronavirus lockdowns, according to The Jerusalem Post.

Most of the amount was reportedly transferred as of Wednesday evening and should appear in the firms’ bank accounts in the coming days.

This is the third in a series of such refunds, which put NIS 1 billion in the pockets of citizens last March, and NIS 345 million in October.