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Israel's Burden

• Literature • Letters
• Kits • Ad Material
• Inserts • Parts
- Pick-n-Packs of All Kinds

Pick Up and
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ROBERT SAUER

Jerusalem Institute for Market Studies

Hidden Taxes

TFD is found by calculating the ratio
of total taxes collected by the govern-
ment at the national and local level to
net national income. The ratio is then
multiplied by the number of days in
the year to get the number of days the
average Israeli works to satisfy the
spending habits of the government.
Total taxes collected include direct
taxes like income and corporate tax
and indirect taxes like the value-added
tax, purchase tax, fuel tax and taxes
collected by local authorities. National
figures published by the Israel Central
Bureau of Statistics are used in the cal-
culations whenever readily available.
The beauty of the TFD calculation

Jerusalem
he new national Israeli budget
means Israel Tax Freedom
Day (TFD) will fall on Aug.
3, four days later than Israel TFD in
2004, a leap year, and the latest Israel
TFD in the past 15 years.
TFD marks the day each year when
the average Israeli stops working for
the government and starts earning
money to meet his personal consump-
tion needs.
The average Israeli tax burden will
reach almost 31,000 shekels ($6,900)
in 2005 compared to 29,000 shekels
($6,400) in 2004.
New taxes were added,
Tax Freedom Day
even though income taxes
decreased slightly. Taxation
of income derived in Israel
by non-residents and taxa-
Swed,n
tion of income derived
abroad by Israeli residents
was introduced. The defini-
tion of residency was also
expanded to increase the
potential tax base. A new tax
on real income from foreign
and Israel stock exchange
gains of 15 percent also
came into effect.
Although international
is that it makes it simple for taxpayers
public finance data are not perfectly
to realize just how much of their
compatible across countries, compar-
money is transferred to the govern-
ing the date of Tax Freedom Day of
ment every year. It is usually quite
other countries with the one in Israel
confusing and daunting for taxpayers
is very informative. It clearly illustrates to gauge their exact tax burden.
the enormous tax burden that Israelis
The visible part of taxes taken in the
form of income tax can be easily cal- "
carry.
In 2004, the U.S. celebrated its Tax
culated. However, hidden taxes and
Freedom Day on April 11, 101 days
fees like customs tax and purchase tax
before Israel. In the United Kingdom,
are often overlooked. The calculation
Tax Freedom Day fell on May 30, 57
of TFD, as opposed to tax revenues as
a percentage of GDP, enables Israelis
days before Israel.
The Czech Republic celebrates its
to get a clearer picture of their overall
Tax Freedom Day as early as June 15.
tax bill.
The Danes and the Swedes celebrate
For the latest years, 2004 and 2005,
Tax Freedom Day towards the end of
Tax Freedom day is an estimate and a
forecast, using Ministry of Finance
July.
national budget documents.
Robert Sauer is president of the
Government borrowing is not taken
Jerusalem Institute for Market Studies,
into account in the calculations even
an independent, nonprofit economic
though national debt will eventually
policy think tank whose mission is to
have to be repaid through taxes.
"discover practical ways to promote mar-
Tax Freedom Day would be even
ket economies and limited government
further delayed if public borrowing
in Israel and the region."
were taken into account. ❑

T

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