Israel's treasury mulls cutting tax breaks for exporters
Turnaround follows public fury over Teva Pharmaceutical Industries paying just 0.3% rate on $1.66 billion in profits.
Fury erupted over the revelation last week that Teva Pharmaceutical Industries paid taxes to the state in 2012 amounting to just 0.3% of its $1.66 billion in profits, thanks mostly to benefits under the Encouragement of Capital Investments Law. The Finance Ministry is now said to be considering reducing exemptions granted under the law and raising the applicable rates.
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