Total tax breaks given to companies as part of the Law for the Encouragement of Capital Investments reached a record NIS 7.2 billion in 2011, up 20% in real terms from 2010, which itself was 7% higher than 2009, according to a report by the State Revenues Commission.
In July, "Globes" revealed the extent of tax breaks granted by the government between 2006 and 2011 following an appeal to the Tax Authority.
The commission's report shows that tax breaks between 2003 and 2011 as part of the Law for the Encouragement of Capital Investment totaled NIS 42.6 billion.
The commission expects tax breaks in 2013 to reach NIS 6.9 billion, rising back to NIS 7.2 billion next year.
Published by Globes [online], Israel business news - www.globes-online.com - on December 31, 2013
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