Smotrich canceled the tax on the disposable? In Tel Aviv they think differently - voila! Real estate

Tel Aviv vs. Smotrich: "Tel Aviv-Jaffa Municipality will act responsibly" (Photo: Reuven Castro)

Contrary to the position of the new government, and Finance Minister Bezalel Smotrich, who already on his first day in office ordered the abolition of the tax on disposable utensils - the Tel Aviv Municipality announces that it will prohibit the use of these utensils in public institutions, on the beaches, and more.

According to the decree published by the Tax Authority, "the tax will be abolished at this stage only until the end of 2023, this is in the expectation that the abolition of the tax will lower the price of the products for the consumer. At the end of the year, they will examine its effectiveness in lowering the price for the consumer as well as the budgetary cost."

Attorney Reuven Lediansky, deputy mayor of Tel Aviv-Yafo, explains the municipality's decision and claims that "contrary to the state's position, the municipality of Tel Aviv-Yafo will act responsibly, it is not possible Let's abandon the protection of the environment in this way just because of a political agenda.

The damage is enormous and we will do everything necessary to prevent it here."

Tel Aviv Municipality announces that it will ban the use of disposable utensils in its institutions, on the beaches and more (Photo: ShutterStock, Shutterstock)

And if you are asking yourself how all this has to do with real estate, then here it is:

the loss in state revenue from the elimination of the tax on disposable utensils is expected to reach approximately NIS 330 million per year. According to the Ministry of Finance, the way to finance this loss is to reduce the rate of tax provision according to law Real estate taxation, to a compensation fund for war damage and drought - therefore an amendment to the property tax and compensation fund regulations will be promoted.

• Real estate

Tags

• real estate

• Tel Aviv Jaffa