The high-tech industry is responsible for a quarter of income tax receipts

by time news

While they make up 11% of all workers in Israel, high-tech workers pay 25% of income tax receipts. The high-tech industry is characterized by high productivity for work and high wages accordingly. The income tax in Israel is progressive and therefore high-wage workers pay a significant portion of it. This fact served the country during the Corona crisis, because while the normal trade and services economy slowed significantly, the high-tech industry only grew even faster. The downside to this dependency is that in the event of widespread layoffs in high-tech, state tax revenues may drop abruptly.


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