Which Israeli Companies Benefited Most From Tax Benefits?

Israeli government launched a national program to encourage capital investment; Finance Minister Yair Lapid now reexamining the benefits granted by the Encouragement of Capital Investment Law.

Send in e-mailSend in e-mail

Reaping NIS 11.78 billion in tax savings between 2006 and 2011 under an Israeli government program to encourage capital investment, Teva Pharmaceutical Industries placed first in a list published Tuesday by the Israel Tax Authority of publicly-traded companies benefiting from the tax breaks.

Teva was followed by Israel Chemicals (NIS 2.2 billion), Check Point Software Technologies (NIS 1.65 billion), Elbit Systems (NIS 500 million), Oil Refineries (NIS 140 million) and Rafael Advanced Defense Systems (NIS 145 million). Syneron received a tax break of NIS 86 million during one of the years in which the program was in force, while NICE Systems saw NIS 135 million in savings over a two-year span.

The names of privately held companies that received the benefits during the five-year period were not released.

The law was changed in 2011 after the scope of tax benefits granted became clear, and is currently undergoing further changes. The data was revealed after the Globes financial daily petitioned the courts to make the information public.

Finance Minister Yair Lapid is reexamining the benefits granted by the Encouragement of Capital Investment Law, his office said today.

The headquarters of Teva pharmaceuticals.

Click the alert icon to follow topics:

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.
From $1 for the first month

SUBSCRIBE
Already signed up? LOG IN

ICYMI

The Orion nebula, photographed in 2009 by the Spitzer Telescope.

What if the Big Bang Never Actually Happened?

Relatives mourn during the funeral of four teenage Palestinians from the Nijm family killed by an errant rocket in Jabalya in the northern Gaza Strip, August 7.

Why Palestinian Islamic Jihad Rockets Kill So Many Palestinians

בן גוריון

'Strangers in My House': Letters Expelled Palestinian Sent Ben-Gurion in 1948, Revealed

AIPAC

AIPAC vs. American Jews: The Toxic Victories of the 'pro-Israel' Lobby

Bosnian Foreign Minister Bisera Turkovic speaks during a press conference in Sarajevo, Bosnia in May.

‘This Is Crazy’: Israeli Embassy Memo Stirs Political Storm in the Balkans

Hamas militants take part in a military parade in Gaza.

Israel Rewards Hamas for Its Restraint During Gaza Op