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Israel Rings in 2025 with Higher Taxes, Rising Cost of Living
Israelis face increased financial pressures in 2025 due to higher taxes and rising living costs. National Insurance payments have risen, reducing take-home pay by 1,000 to 2,000 shekels annually per household. The surtax on incomes over 721,560 shekels has increased from 3% to 5%. Value-added tax (VAT) has been raised from 17% to 18%. Additionally, utility costs are up, with electricity increasing by 3.5% and water by 2%. Major food producers are also implementing price hikes. These measures aim to address war-driven budget deficits but exacerbate financial strains for many citizens.
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