Pod Save America Hosts Call on Democrats to Cut All Israel Military Aid, No Longer Accept AIPAC Funding
Jews, Israelis Targeted in Austria Amid Surge in Antisemitic Incidents; Local Jewish Community Calls for Action
‘All of Our Strength’: Over 1,000 Pro-Israel Activists Gather in DC for Solidarity Conference
‘Devastated’: Wesley LePatner, Killed in Manhattan Mass Shooting, Was a Jewish Communal, Philanthropic Leader
Sen. Angus King Vows to No Longer Vote for Israel Military Aid Until Gaza Conditions Improve
Europe Won’t Pressure Israel to ‘Commit Suicide’ Amid Gaza Backlash, Palestinian State Push, Says Israeli FM
Israel’s National Soccer Coach Attacked in Athens Before Soccer Fans Chant ‘F–K Israel, Free Palestine’ at Match
New York Judge Sentences Neo-Nazi to 5 Years for Livestreaming Bomb Threats Against Jewish Hospitals
US Pressures Lebanon to Issue Cabinet Decision to Disarm Hezbollah Before Talks Continue
UK Plans to Recognize Palestinian State in September Unless Israel Meets Conditions, Starmer Says
Israel Tax Chief: Gaza Operation Cost NIS 4.5 Billion So Far
Error: Contact form not found.
by Joshua Levitt
Israel's 20 shekel bill. Photo: WikiCommons.
Israel Tax Authority Director Moshe Asher said Operation Protective Edge is estimated to have cost Israel about NIS 4.5 billion ($1.3 billion) in terms of lost GDP, translating into a loss off NIS 1 billion in taxes, Israeli business daily Globes reported on Tuesday.
“Even before the fighting, we saw a slowdown in the economy and Operation Protective Edge is now added to this,” Asher said. “We have our finger on the pulse to see where the trend is leading. Direct damage is estimated at about NIS 50 million.”
Rather than immediate tax hikes, Asher said, “The compensation fund which finances compensation separately from the regular budget accrues about NIS 1 billion each year. At the moment it has NIS 5.5 billion. Direct damage will come from that fund. We have Iron Dome which kept the home front strong and saved us direct and indirect damage to the economy.”
Separately, Globes reported that the Israeli Association of Tourist Agents and Consultants estimates lay-offs of about 20 per cent, or 4,000 workers out of the tourism sector’s 20,000, because of the conflict. Currently, many firms have shortened worker hours in hopes business returns in the event of Israel reaching a successful, long-term cease-fire with Hamas.
