The Knesset plenum approved on first reading the bill to amend the Income Tax Ordinance - a tax exemption on a grant to a winner of a competition in the framework of the Olympic or Paralympic Games.
This is a government proposal to which private proposals from MKs Yariv Levin, Ofir Katz, Yossi Shein and Simon Davidson have been attached.
10 MKs supported without opponents and the proposal will be forwarded to the Finance Committee.
The proposal proposes to exempt from income tax a grant paid to an athlete for winning first, second and third place at the Olympic Games or the Paralympic Games.
The explanation reads: "In recent years, many Israeli athletes in various sports reach achievements that place them in the forefront of the world's leading athletes. Following the various achievements, athletes sometimes receive financial grants from various bodies - organizers of the competition in which they participated, "Although many of the athletes struggle for funding, when they receive such a grant - they are forced to pay tax for it."
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