Israel's Ministry of Finance is reportedly planning to remove the current USD 75 import tax exemption for the import of a consignment of goods in order to level the playing between domestic retailers and foreign online retailers. Import tax includes customs duties, purchase tax, and VAT payable on goods. The USD 75 exemption threshold applies for purchase tax and VAT, while a higher exemption threshold of USD 500 applies for customs. Subject to approval, the removal of the USD 75 exemption is…