Categories: Economy

Reduced Penalties for Late Payment of Administrative and Criminal Fines in Israel: A New Regulation to Take Effect in 2025

A bill has been passed by the Knesset, resulting in reduced penalties for late payment of administrative and criminal fines. The new law will see the penalty amount reduced to 30% of the main amount of the fine, down from the previous 50%. Additionally, penalty interest will be added to the debt every three months without compounding.

Under this new regulation, a fine of 1,000 shekels that is not paid on time will increase to 1,420 shekels in a year, rather than 1,600 shekels as it would have been under the previous law. It is important to note that these new regulations will not go into effect until January 1, 2025.

Eleanor Thompson

As a content writer at newslopp.com, I am passionate about transforming ideas into engaging stories that captivate and inform our readers. With a keen eye for detail and a love for crafting compelling narratives, I strive to create content that resonates with our audience and keeps them coming back for more. From breaking news to in-depth features, I am dedicated to delivering high-quality, well-researched articles that spark conversation and inspire thought. My goal is to connect with our readers on a personal level, providing them with valuable insights and fresh perspectives on a wide range of topics. Join me on this exciting journey as we explore the world through the power of words.

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