Departments in the Ministry of Finance
The Ministry of Finance is composed of various departments and units who provide services to the different levels of the government, the economy and the Ministry.
The Budget Department administers public expenditure and has three main roles:
- Act as a central government unit for planning and budgeting
- Act as a consulting unit of the Ministry of Finance and the government for general aspects of its decision-making process
- Elaborate macro-economic policy.
The Capital Market, Insurance, and Savings Department supervises insurance and long-term savings market in Israel and is tasked with settling a suitable insurance policy. Among other duties, the department grants licenses and monitors the stability of insurance firms, pension funds, and insurance policies.
The Israel Tax Authority is composed of Income Tax, Land Tax, Customs and VAT authorities, and the Mechanized Processing Service. The Tax Authority is responsible for both direct and indirect tax systems, tax monitoring and public service improvement.
International Affairs Department
The International Affairs Department manages the Finance Ministry's contacts with foreign governments, economic organizations and the international community, in collaboration with the Ministry of Foreign Affairs and other economic offices.
In addition, the department is responsible for publishing English press releases, presentations, documents, instant messages and other data for the Israeli Ministry of Finance's English readers.
The Government Debt Management Unit (GDMU), is in charge of managing Israel's domestic and external debt and the development and implementation of an overall debt management strategy. In The unit is responsible for issuing tradable government bonds in Israel's domestic market and raising capital in international markets; promoting reforms in the Israeli capital market; studying and monitoring global capital markets; providing information to the international rating agencies; cooperating with the Israel Bonds Organization; and managing other countries' debts to Israel through the "Paris Club"
Economics and Research Department
The Economics and Research Department collects and analyzes information on economic developments in Israel and abroad and evaluates future developments of the Israeli market. The department's data is used in the formulation of economic policy.
The Accountant General's Department implements the state budget, manages state assets, funds the deficit and supervises government debt. In addition, the Accountant General also administers the government vehicle administration, supervises all of the government information and computer systems, and is also responsible for central government procurement.
Wage and Labor Agreements Department
The Wage and Labor Agreements Department is responsible for setting and implementing wage policy in the public sector, negotiating on behalf of the government and the public sector with the market, inspection and revision of public administration, and advising the government and the parliament (Knesset) on related issues.
Government Companies Authority
The GCA is a professional unit of the Ministry of Finance, which carries out the role of the government as a shareholder in all government companies, which includes privatizations and managing structural changes. The GCA is responsible for the activity of approximately 100 companies, which include commercial and non commercial companies, government subsidiaries and mixed companies.
State Revenue Division
State Revenue is an auxiliary division which determines the government's tax policy and tax reforms. The division prepares yearly revenue forecasts for the state's budget, analyzes tax collection data, and studies the implications of various laws and regulations. The division also manages international taxation issues and double-taxation avoidance treaties. The State Revenue Division produces a comprehensive yearly report, runs the tax museum and publishes the Israeli Quarter for Taxes.
The Spokesperson is responsible for the official communications and public relations of the Ministry. Its website contains all Hebrew press releases, presentations, and documents since 1998.
Holocaust Survivors Rights Authority
The Holocaust Survivors Rights Authority is in charge of implementing the laws regarding holocaust survivors, granting monthly payments, medical treatments, rehabilitation and welfare services.
The Governmental Printer is a service unit which provides printing services to governmental institutions. The governmental printer is also in charge for the printing of identity cards and passports, national final exams for schools, stamps, governmental reports, state laws, etc.