Treasury: October tax revenues fell a real 18%

For first nine months tax revenue dropped 1.4% to NIS 124 billion
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Israeli state revenues from taxes in October totaled NIS 10.5 billion, a real fall of 18% from a year earlier, the Finance Ministry said on Monday.

In the first nine months of the year, tax revenues amounted to NIS 124 billion, a real fall on the year of 1.4%.

The fall in state revenues was due to a domestic economic slowdown, the ministry said.

Revenue from income and property taxes fell a real 19% on the year in October to NIS 5.9 billion.

Value added taxes, before refunds to the public that were delayed from September, showed a real rise of 2% on the year to NIS 4.8 billion in October.

After factoring in refunds to the public, VAT came to NIS 4.3 billion shekels.