Summary
If you make ₪ 38,350,000 a year living in Israel, you will be taxed ₪ 19,083,302. That means that your net pay will be ₪ 19,266,698 per year, or ₪ 1,605,558 per month. Your average tax rate is 49.8% and your marginal tax rate is 50.0%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of ₪ 100 in your salary will be taxed ₪ 50, hence, your net pay will only increase by ₪ 50.
Bonus Example
A ₪ 1,000 bonus will generate an extra ₪ 500 of net incomes. A ₪ 5,000 bonus will generate an extra ₪ 2,500 of net incomes.