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What is the Income tax brackets? What is the impact of having a Palestinian currency on...

What is the Income tax brackets?

What is the impact of having a Palestinian currency on Israeli economy?

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Abdul-Rahim Taysir

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Answer #1

A range or category of income which is subject to a specific income tax rate is known as income tax bracket. Such tax brackets result in a tax system which is progressive in nature.

The impacts of having a Palestinian currency on Israeli economy are:

  • The Israeli economy has been deformed and multiple economic and military measures have been imposed.
  • This formation of monetary union has resulted into transactions which can be made in a more efficient manner.
  • Volume of trade has increased between the two economies.
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