The Knesset decreases penalties for late payment of fines

In a major move, the Knesset has passed a bill that will significantly reduce penalties for late payment of administrative and criminal fines. Under the new law, the penalty will now be 30% of the main amount of the fine, instead of the previous 50%. This means that those who owe fines will only have to pay 30% more than the original amount, rather than twice as much.

In addition to this change, penalty interest will be added to the debt every three months without compounding. This means that the penalty will only be charged on the original debt and not on any previously unpaid penalties. For example, if a fine of 1,000 shekels is not paid on time, it will increase to 1,420 shekels in a year, rather than 1,600 shekels as it would have been under the old regulations.

It’s worth noting that these new regulations will not go into effect until January 1, 2025. However, they are sure to bring relief to many individuals and businesses who have struggled with high fines in the past. With these changes, paying fines on time will become more affordable and accessible for everyone.

By Samantha Johnson

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