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(From Israel Business Arena)
Byline: Zeev Klein
The Ministry of Finance projects NIS 168 billion in state tax revenues in 2006: NIS 88.6 billion in direct taxes, NIS 74.1 billion in indirect taxes, and NIS 5.3 billion in fees. Adjusted for inflation, this is 1.6% more than actual tax revenues in 2005.
The revenue target for 2006 assumes 3.9% real economic growth, a 2.6% increase in output prices, and net tax cuts of NIS 3.5 billion.
Explanations accompanying the forecast stated that the Israeli economy went into deep recession in late 2000, caused by the security situation and the general global economic slowdown. GDP fell in both 2001 …