In the Money State and Israel Chemicals Caught in a Trap Over ICL's Future Taxes

ICL may have agreed to pay the state NIS 380 million on Sunday for its 'trapped profits,' but both sides are still taking the other's words with a large pinch of salt.

Israel Chemicals agreed Sunday to pay NIS 380 million in taxes on its so-called trapped profits. In so doing, ICL's board showed its sensitivity to the company's image by responding to public demands that it meet its moral obligation to the state with a large tax payment.