On Dec. 3, ISR CB extended iron swords support for business owners.
ISR CB announced further measures for business owners living in Northern Israel to help them during Iron Swords war, extending the assistance outline adopted by banks.
New outline is in response to the security situation and developments in the north.
Aims to help business owners operating in the northern region with cashflow relief following security escalation, as part of economic rehabilitation/return to normality.
4th-6th addendum Property tax & compensation fund (payment of compensation) (war damage and indirect damage) (iron swords) regulations (temporary provision), 2023 (Property tax regs 2023), and 7th-8th addendum to draft (Property tax regs 2024).
Businesses with annual turnover up to NIS 25mn can defer credit in an aggregate amount of up to NIS 2mn, not including loans in commercial cooperation third parties.
3 month deferral without extra interest/fees; can apply Dec. 10, 2044-Feb 10, 2025.
Existing Outline Update
Existing scheme effective until Dec. 31, 2024, covered deferring loan and mortgage payments without interest or fees; exemption from most current account fees, etc.
This outline is extended until Mar. 31, 2025, with some population adjustments.
Effectiveness
The additional outline of measures will be effective from Jan. 1, 2025.
