4 ms·
In Israel, the threshold is low : 100000 NIS, about $29k, and that's revenue, not profit. As a reference point, the minimum wage in Israel is 60,000 NIS, so ad
by carl_dr 4y ago
In Israel, the threshold is low : 100000 NIS, about $29k, and that's revenue, not profit.
As a reference point, the minimum wage in Israel is 60,000 NIS, so adding expenses and buying parts/consumables/fittings etc on behalf of your customers onto that, most contractors would reach that threshold quickly.
I can see why the contractors are keen to stay below the threshold, and why the government is keen to restrict cash usage (they are gaining 17% sales tax as well as income tax.)
- 2Gkashmiri 4y agoalright. in india, for a "service provider", the threshold is inr 20 lacs or $25000. daily wages is at best inr 7-900 or $10-12. the threshold is calculated on the "bank deposits" so people simply collect cash and don't route it through the banks. that way, people can avoid reaching the limit for quite some time...