Knesset Panel Debates Capital Gains on Earnings From Land

Finance Ministry officials say the tax could bring in around NIS 2 billion in 2014, a further way for Israel to benefit from its natural gas bonanza.

A plan to impose a capital gains tax on foreign investors controlling income-producing land – most notably natural gas and other natural resources – moved a step forward Tuesday as most members of the Knesset Finance Committee signaled they supported the proposal.