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Concern over possible NIS 2.5b December income tax revenue shortfall.
(From Israel Business Arena)
Byline: Zeev Klein
Government revenue from taxes and fees are expected to plunge in December. Combined revenue collected by the Ministry of Finance customs and VAT Division and the Income Tax and Property Tax Department is expected to amount to only NIS 11.5 billion, compared with the NIS 14 forecast.
The latter figure is required in order to meet the government's revised NIS 148 billion revenue forecast for 2002, set two months ago.
Senior tax specialists in Jerusalem predicted, however, that "Such miracles will not occur."
Estimates are that customs and VAT division receipts will amount to NIS 5 …
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