The current situation suffers from the following distortions: •  Local-currency deposits are tax exempt; foreign-currency deposits in Israel are taxed. •  Savings schemes are exempt; tradable government and private indexed bonds are taxed. •  Unindexed government bonds are tax free, while similar private bonds are taxed. The tax, where applicable, is 35 percent, and in some cases higher.
[i] Good morning, I am delighted to be here this morning to launch the Central Bank of Ireland’s € Silver Proof Coin to commemorate 70 years since the musician Phil Lynott was born. The Central Bank is proud to be issuing this fabulous coin to celebrate such an iconic musician.