Gov't approves easier investment aid criteria

The changes in the new law for encouraging capital investments will include replacing the 25% export threshold eligibility condition with the wording "a significant contribution to GDP."

The cabinet today authorized the ministers of finance; justice; and industry, trade and labor to approve changes in the wording in the new law for encouraging capital investments. The changes will include replacing the 25% export threshold eligibility condition with the wording "a significant contribution to GDP."

The contribution will be measured in at least one of three ways: either most of the company's business must be in biotechnology or nanotechnology (preferred encouragement targets); revenue from sales in a particular market in each tax year must not exceed 75% of total sales (including the domestic market); and at least 25% of a company's sales must be in a market with at least 12 million residents (export markets, without setting them as a condition).

The change was made following Ministry of Justice reservations about the original wording in the law, as reported by "Globes" last week. Deputy Attorney General (economic affairs) Davida Lachman-Messer ruled that the export criteria in the original draft bill contravened international treaties to which Israel is a signatory, including the World Trade Organization convention, which forbids indirect subsidies of exports.

Published by Globes [online] - www.globes.co.il - on October 24, 2004

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
prices  picture: Tamar Mitzpi CPI up 0.3% in March

The index reading is a surprise, as analysts had estimated March inflation at 0.1%.

Slowdown will worsen

The vested interests that continue to claim that the economy is improving are deceiving the public, says Eyal Horowitz.

Can the US maintain growth after QE3?

Leading economists will discuss "The US: catch 22 the zero interest rate" at the "Globes" 2013 Israel Business Conference.

Twitter Facebook Linkedin RSS Newsletters