• Wed. May 22nd, 2024

Reducing Fine Penalties: New Knesset Bill Set to Go into Effect in 2025

BySamantha Nguyen

Mar 28, 2024
The Knesset decreases penalties for late payment of fines

The Knesset has recently passed a bill in the second and third readings, which will result in reduced penalties for late payment of administrative and criminal fines. This new law will see the penalty decrease from 50% to 30% of the main amount of the fine. Moreover, under this new regulation, penalty interest will be added to the debt every three months without compounding, meaning that the penalty will only be charged on the original debt and not on any previously unpaid penalties.

For instance, a fine of 1,000 shekels that is not paid on time will increase to 1,420 shekels in a year, instead of 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.

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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