New Budget Proposes Complete End to Electrical Vehicle Tax Breaks

Egged CEO Gilad Riklin said that Israelis "want all city buses to be electric by 2035" at the Globes Infrastructures Conference.

Globes reports that though Israel has experienced a decline in car sales compared to last year, the share of electric vehicles being sold is now 24% compared to just 14% the previous year.

The tax increase now goes to the Knesset for a second and third vote. Members of the committee, including on the coalition, criticized the move as too easy and harming the weakest members of society.

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Rising fuel prices, large inventories, and a glut of deliveries mean lots of deals on Chinese-made electric vehicles in Israel. But future problems may cloud this bright future.

The tax, which would be based on "smart meters" at public charging stations or the regular home electric bill, is aimed at preventing too much strain on the electrical grid.

Additional taxation on fuel and natural gas, which will also impact electricity prices, increased taxation on tobacco products and cigarettes, and a substantial cut in the medication basket - All are part of the Treasury's efforts to cope with the costs of the war.