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In a significant move to bolster its budget for 2024, the Ministry of Finance in Israel is contemplating the cancellation of the longstanding VAT exemption on purchases from abroad. The 17% automatic discount on overseas acquisitions is set to expire soon, marking a potential shift in taxation policy. This decision is part of broader efforts to tighten financial belts and raise taxes, but it has sparked a heated debate among stakeholders

The struggle over the cost of living intensifies close to the establishment of a new government in Israel. Binyamin Netanyahu is making efforts to establish his government very quickly, but the marketing chains are not interested in fighting the angry public over the price increase. The question being asked now is whether the marketing chains are boycotting Unilever or is Unilever boycotting the chains? From the beginning of the month, Shufersal, Osher Ed, Bitan Wines, Yohannoff, Half Free, Victory and Rami Levy do not accept products from the European giant company that imports Dove, Sif,...

Broadcom chipmaker defeated the israeli tax authority: Broadcom District Court received Broadcom's NIS 150 million tax assessment for its Dune acquisition deal. In the judgment, Tax Judge Dr. Samuel Bornstein rejected the tax authority's claim that the Dune acquisition by Broadcom Semiconductors Ltd. was an artificial transaction, and even required the tax authority to pay Broadcom legal fees of NIS 75,000. For Broadcom, this is a "saving" of about NIS 150 million. The original tax authority requirement from the company, from 2009, was about NIS 100 million, and the amount accrued interest

Israel Chemicals Ltd (ICL), now known as ACL, has witnessed a tumultuous second quarter in 2023, grappling with plunging profits and a sharp decline in product prices. However, recent indicators of price stabilization and increased demand suggest a potential turnaround for the fertilizer and minerals producer. Since the commencement of the third quarter, ACL's stock has surged by 16%, hinting at a potential upswing in the company's financial results for Q3. This comes as a relief after the company faced a severe blow in Q2, when a precipitous fall in fertilizer prices and reduced...

Teva is required to pay the state treasury a tax totaling NIS 6.9 billion. The company is conducting a series of legal proceedings with the Tax Authority regarding this demand, which has not yet been decided. The company's stock closed trading in Tel Aviv with a decrease of more than 6.5% and at this time it is trading on Wall Street with a decrease of about 3%

Since the outbreak of the war, nearly 7,000 foreign workers have left Israel, posing a significant challenge to the country's labor force. According to data collected by the Administration of Foreign Workers at the Population and Immigration Authority, the departure of foreign workers is affecting various sectors of the economy

Following the worsening of the infection data, the ministerial committee imposed a closure on Betar Illit for a week from Wednesday at 08:00.The Prime Minister's Office and the Ministry of Health said that in view of the decision, entry and exit to the city of Beitar Illit will be restricted, as well as traffic and business within the city itself. The motion for a resolution will be placed on the Knesset's Constitution, Law and Justice Committee table as soon as possible. The motion for a resolution will be placed on the Knesset's Constitution, Law and Justice Committee table as soon as...

After extensive negotiations spanning over a year with both Airbus and Boeing, El Al Airlines, controlled by the Rosenberg family, has decided to exclusively negotiate with Boeing for its new aircraft fleet. The decision marks a significant milestone for the company, leading to the largest strategic agreement in its history. Boeing Deal Details El Al plans to purchase and lease approximately 30 Boeing 737 Max narrow-body aircraft, with an estimated value of $2-2.5 billion. Deliveries are expected to commence in 2027 and span several years, rejuvenating and expanding the airline's...

The Israeli Defense Forces (IDF) announced the death of Colonel Ehsan Daqsa, commander of the 401st Armored Brigade, during combat in the northern Gaza Strip on Sunday. This marks the first confirmed death of a brigade commander at the rank of colonel since the ground offensive began on October 27