New Jewish immigrants and citizens moving back to Israel in 2026 will pay no income tax during their first two years in the country, Finance Minister Bezalel Smotrich announced on Thursday.

The tax reform for olim , which is part of next year’s state budget and was first announced during a ceremony at the Jerusalem headquarters of Nefesh B’Nefesh Thursday, seeks to attract immigrants and returning residents from Western nations amid a global surge of antisemitism.

“This is a Zionist and economic revolution,” Smotrich declared, speaking alongside Aliyah and Integration Minister Ofir Sofer.

“Zionism has always relied on three pillars—settlement, security and aliyah,” he added. “These past two years, we invested heavily in security, and the State of Israel is now in a different place. Th

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