Article: Disband investment center? (Israel. Investment Authority) (Government, Trade, Labor, Education)

Disband Investment Center?

Sources say the upper echelons of the Ministry of Finance and the Bank of Israel are in favor of canceling all grants and benefits outlined in the Law for the Encouragement of Capital Investments and replacing them with significant reductions in labor costs and taxes. Officials recommend reductions in the National Insurance levies paid by employers and in companies tax. Adoption of these recommendations would mean the disbandment of the Industry and Trade Ministry Investment Center. Under the present law, benefits paid total some $1.5 billion per annum of which $600 million is for equipment, $700 million is for guarantees and $200 million ...

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