Compensation will be paid to businesses in the suburbs of Haifa

The Ministry of Finance and the Israel Tax Authority announced the possibility of receiving compensation for businesses in two areas of Haifa – Kiryat Shmuel and Kiryat Haim for September and October 2024. Applications for compensation will be available soon. The decision to provide compensation was made after careful study and discussion of the issue in the Knesset Finance Committee.

Businesses whose addresses are registered in the specified areas of Haifa will be entitled to full compensation for September-October 2024 under the revenue reduction option. Other businesses in Haifa and the city of Nesher will be eligible for compensation under the expense option. The Tax Department has already opened the door for applications and is awaiting approval of the amendment to the regulations for the respective areas.

Compensation will be paid within 7-14 business days of application, and application deadlines are set for early 2025. To receive compensation, you must log into the online system of the Compensation Fund, select the period and desired compensation option, as well as provide a VAT report for the relevant months and pay wages to employees.

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