Israel's Public Companies Demand Tax Exemption For Hi-Tech Investment
Israel's executive board of the Association
of Publicly Traded Companies (APTC) has presented a proposal entitled
'A Window on High-Tech' to Ministry of Finance director general Ohad Marani
calling for a tax exemption on capital gains for investors who make direct
investments in the country's hi-tech companies. Dan Goldstein, chairman of the APTC, told
local reporters: 'The proposal is aimed at encouraging investments in
high-tech companies facing crises. 2002 will be particularly hard even
for excellent companies, since investment capital is down to a trickle.
A major incentive needs to be given to investors sitting on the fence
to promote investments.' The APTC is a non-profit organization, members
include hundreds of Israeli public corporations trading on the Tel Aviv
Stock Exchange (TASE) as well as other stock exchanges throughout the
world. The Association is well known for its ambition to persuade the Israeli
tax authorities to harmonise Israel's tax system with that of the US and
Western Europe. .
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