The Israeli Ministry of Finance is the main economic ministry of the Government of Israel. It is responsible for planning and implementing the Government's overall economic policy, as well as setting targets for fiscal policy, preparing the draft State Budget and monitoring implementation of the approved budget. The ministry also manages state revenues, collects direct and indirect taxes and promotes nonresident investments. In addition, the ministry conducts economic relations with foreign governments, economic organizations and the international community. The ministry regulates the state owned companies sector and the capital market, savings and insurance. The ministry is also responsible for auxiliary units for government ministries in motor vehicles, computer services, printing and government procurement. The Finance Ministry is headed by the Finance Minister, currently Israel Katz. There is also occasionally a Deputy Minister of Finance. The permanent staff of the ministry include the Director General, the department directors responsible for the Budget Department, the Accountant General, the Wage and Labor Agreements Department and the accreditation units.
Main functions
The units of the Ministry of Finance may be categorized by the three types of service they provide:
Government staff services – departments that act on behalf of units and operations of the government: budgeting of government operations, operations of the Accountant General, regulation of the state-owned companies, economic services in the United States, and control and auditing of Finance Ministry operations.
General economic staff services – departments that act in matters pertaining to the economy at large: management of state revenues, and regulation of the capital market, insurance, and savings. The Tax Authority implements the Income Tax and Property Tax ordinances, Customs, and VAT.
Auxiliary services for government ministries – motor-vehicle services, computer services for the tax departments, printing and Government Procurement Administration.
