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Israel Online · Oct 19, 2026

Israel Online — photo status

Israel Considers Eliminating the 200-Shekel Banknote Israel Tax Authority Director Shay Aharonovitch has revived a proposal to eliminate the country's highest-denomination banknote as part of efforts to combat tax evasion and the underground economy. Aharonovitch warned that Israel's 2027–2028 budget could be particularly harsh, requiring billions of shekels in additional revenue. The Bank of Israel opposes eliminating the 200-shekel note, arguing that no sufficient professional justification has been presented. No decision has been made, and the banknote remains legal tender.

*Israel Considers Eliminating the 200-Shekel Banknote* Israel Tax Authority Director Shay Aharonovitch has revived a proposal to eliminate the country's highest-denomination banknote as part of efforts to combat tax evasion and the underground economy. Aharonovitch warned that Israel's 2027–2028 budget could be particularly harsh, requiring billions of shekels in additional revenue. The Bank of Israel opposes eliminating the 200-shekel note, arguing that no sufficient professional justification has been presented. No decision has been made, and the banknote remains legal tender.

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