The Knesset decreases penalties for late payment of fines

The Knesset has recently passed a bill that will 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 individuals who owe fines will only have to pay 30% of the original amount, rather than the full amount.

Additionally, 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, a fine of 1,000 shekels that is not paid on time will increase to 1,420 shekels in a year, rather than 1,600 shekels as it would have been under the old regulations.

It is important to note that these new regulations will not go into effect until January 1, 2025. However, this change in law is expected to provide relief to many individuals who have been struggling to pay their fines on time.

By Sophia Gonzalez

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