Posted by Richard Willet - Memes and headline comments by David Icke Posted on 30 July 2022

Israel’s Lower Threshold on Cash Transactions Takes Effect Next Week

Since 2019, Israeli businesses and consumers have been subject to a limit on the value of cash transactions. On Aug. 1, that limit is set to decrease from NIS 11,000 ($3,192) to NIS 6,000 ($1,741) for business payments and from NIS 50,000 ($14,510) to NIS 15,000 ($4353) for transactions between private individuals.

The stated purpose of the law is to force the public to use digital means of payment rather than cash. This is intended to enable better transaction monitoring so that Israeli authorities are equipped to tackle tax evasion, black market activity and money laundering.

Payments made to Palestinian Arabs and certain religious loans are exempt from the country’s cash cap. Likewise, car purchases are excepted from the new rules, where the cash cap will remain unchanged at NIS 50,000.

According to Israel National News, Tax Authority figures show a gradual increase in compliance with the law, from around 84% in 2019 to 92% in 2021 and 95% in 2022.

Israel National News reports that NIS 5 billion have already been collected in fines since the restrictions came into law. Tens of thousands of audit raids on businesses have been conducted by the Tax Authority and thousands of violators have been penalized. In 2022 alone, around 6,000 audits have been conducted so far, with 2,189 law-breakers identified, representing a sum of NIS 35 million in illicit transactions.

Violations of the law are punishable by fines starting at 15% of the transaction if the cash payment was less than NIS 25,000 to a business, increasing to 20% where the transaction was between NIS 25,000 and NIS 50,000, and reaching 30% for larger transactions.

Between private individuals, the fines are lower, starting at NIS 10,000 for payments up to NIS 25,000, increasing to 15% for amounts up to NIS 50,000, and 25% for larger sums.

Read More: Israel’s Lower Threshold on Cash Transactions Takes Effect Next Week

The Trap


From our advertisers