Director of the Tax Authority: “High-tech has become Israel’s economic iron dome”

“High-tech has become the economic iron dome of the State of Israel and has helped to overcome the corona crisis in terms of the amount of tax collection.” This is what the director of the Tax Authority, Eran Yaakov, said yesterday at the annual conference of the Institute of Certified Public Accountants in Eilat.

Yaakov noted that high-tech constitutes 9% of the volume of GDP in the economy, but his share in the collection of taxes stands at 25%. “We were hardly harmed in terms of taxes due to the export of services and programs in the industry,” added the director of the authority, who emphasized that the tax collection data in the first quarter of 2021 against the background of the corona epidemic were a good surprise.

Tax collection in the first quarter amounted to NIS 120.2 billion – an increase of 17% compared to the first quarter of 2019. At the same time, the volume of collection in 2020 amounted to NIS 310 billion and was lower than forecast.

According to Yaakov, the volume of black capital in the economy is estimated at 20%, but he added that these things were said without in-depth research. “We are not in a good place at an international level, and we must deal with it through enforcement and prevention, especially in the fields of technology.”

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He added that “the more we can collect and handle transactions online, the better we can handle the issue of black capital. The handling of the issue is part of the tax authority’s strategic plan.”

State Comptroller Matanyahu Engelman said during the conference that he intends to recommend to the government to regulate the activities of social networks such as Facebook in legislation. However, the auditor explained that Facebook is not under his supervision, “and I have no interest in publicly commenting on what moves I intend to recommend.”

State Comptroller Matanyahu Engelman (Photo: Olivia Fitoussi, Flash 90)

Engelman added that he intends to address and oversee the investment policies of public entities such as universities, with a view to ensuring that investment processes are carried out properly. “The return will be reasonable over the years and the management fee will be reasonable,” he said.

Source: – כלכלה בארץ by

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