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Knesset lifts double social security burden for US immigrants

image sourced from original article at https://www.ynetnews.com/article/hjfic4rdzl

The parliament has approved Amendment No. 262 to the National Insurance Law, granting new immigrants from the United States a five-year exemption from paying Israeli National Insurance contributions on income already subject to United States Social Security taxes. The measure was introduced by lawmaker Simcha Rothman.

Supporters say the reform addresses a longstanding structural gap between the two countries’ systems. Because Israel and the United States do not have an agreement to prevent double social security contributions, many United States citizens living in Israel have been required to pay into both systems on the same income.

The new law aims to ease the financial burden on recent immigrants and encourage relocation by preventing overlapping social security payments during their initial years in the country.

Original article source: https://www.ynetnews.com/article/hjfic4rdzl
Source Id: 9108332742

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