Israel Tax Authority Falling Short of Target on Taxing 'Trapped' Corporate Profits

Despite having raised only NIS 640 million in tax revenues from so-called "trapped" corporate profits, Israel Tax Authority says it expects more companies to use the special tax break expiring in November.

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The Israel Tax Authority is currently far short of its goal for collecting tax revenues from so-called trapped corporate profits, with just NIS 640 million of the NIS 3 billion projected in the 2013 budget,...