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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