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Israel Considers Bank Tax to Offset Consumer Benefit Cuts

12/29/2025

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Summary

Story summary

Bezalel Smotrich, Israel's Finance Minister, said at a conference in Jerusalem on December 25, 2025 that Israel could raise taxes on banks if consumer benefits are canceled.
The Finance Ministry estimates the tax would generate NIS 1.13 billion in 2026.
Projections indicate the revenue would reach NIS 1.5 billion annually from 2027 through 2029.

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Story summary

Bezalel Smotrich, Israel's Finance Minister, said at a conference in Jerusalem on December 25, 2025 that Israel could raise taxes on banks if consumer benefits are canceled.
The Finance Ministry estimates the tax would generate NIS 1.13 billion in 2026.
Projections indicate the revenue would reach NIS 1.5 billion annually from 2027 through 2029.