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US Issues Annual IPR Country Report 5/3/2012 The Office of the United States Trade Representative has released its annual
‘Special 301 Report’ on the perceived adequacy and effectiveness of
US trading partners’ protection and enforcement of intellectual property
rights (IPR).
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Results Of Annual US Review Of Telecommunications Trade Agreements 4/10/2012 United States Trade Representative Ron Kirk has announced the results of
the 2012 annual review of the operation and effectiveness of telecommunications
trade agreements under Section 1377 of the Omnibus Trade and Competitiveness Act
of 1988.
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WTO Members Pressure Argentina On Trade Policy 4/9/2012 At the Council for Trade in Goods meeting on March 30, 2012, fourteen World Trade Organisation members jointly
expressed their deepening concern about Argentina’s import-licensing measures, which were said to have significantly restricted trade flows.
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Mexico Has OECD's Lowest Tax Burden 11/30/2011 The Organization for Economic Cooperation and Development has published its annual report on the tax burdens in place in 2010 among its members, which shows that Mexico had the lowest tax-to-GDP ratio at 18.7%.
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Corporate Responsibility Reporting Hits Record High 11/25/2011 The UK now tops the global rankings for corporate responsibility reporting, with Japan coming a close second, according to a new report from KPMG.
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Switzerland Tops WEF Competitiveness Index 9/9/2011 Switzerland tops the overall rankings in the Global Competitiveness Report for 2011-2012,
released on September 7 by the World Economic Forum.
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US, Israel Commit To Trade Expansion 8/29/2011 Deputy United States Trade Representative, Miriam Sapiro, and Israel’s Director
General of the Ministry of Industry, Trade, and Labor, Sharon Kedmi, have reached
agreement on a process to further their shared commitment to expand trade and
investment between the United States and Israel.
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Israel Boosts Tax Treaty Network 8/16/2011 The Israeli government has announced that double tax avoidance treaties have been signed and initialled with Malta and Panama respectively.
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Malta Signs Double Tax Pact With Israel 8/1/2011 Deputy Prime Minister and the Minister for Foreign Affairs, Toni Borg visited
Israel on July 28 and signed an agreement for the avoidance of double taxation
with Israel Foreign Minister, Avigdor Lieberman.
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USPTO Develops Projects With Korean, Nordic, Israel Patent Offices 6/24/2011 The United States Patent and Trademark Office has announced three new
and expanded pilot projects with the Nordic Patent Institute, the Israel
Patent Office and the Korean Intellectual Property Office, respectively,
to allow applicants to obtain corresponding patents faster and more efficiently
in each country.
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Jersey, Israel Explore Business Synergies 5/26/2011 A high level delegation from Jersey visited Israel as part of a three-day visit, concluding on May 24,
to promote the island and drum up interest from businesses and individuals in
investing in the island.
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Israeli Government Publishes Financial Statements 5/12/2011 The Israeli Government’s financial statements for 2010 have just been published and for the first time units in all branches of the Government have been consolidated in the reporting process.
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Tax Burdens On The Increase, Says OECD 5/13/2011 Average tax burdens rose in 22 of the Organization for Economic Co-operation and Development's 34 member countries in 2010, with France, Belgium, Germany and Italy among the highest-taxed countries.
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Irish Tax Credits Remain Attractive 5/10/2011 Seán Sherlock, Ireland's Minister for Research and Innovation has commented
on a new survey which analyses trends in the uptake of the Irish government's
Research and Development tax credit.
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Israel Suspends Tax Revenue For Palestine 5/5/2011 The Israeli Finance Minister, Yuval Steinitz, announced this week that Israel’s regular payment in tax revenue to the Palestinian National Authority had been suspended until Israel could determine whether or not the money would be going to Hamas.
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EU Preferential Trade Regime To Be Improved 4/20/2011 The European Union has launched a process which it believes will allow for the easier operation of preferential trade between itself, the Southern Mediterranean and the Western Balkans, by overcoming many of the current difficulties caused by the management of a large variety of bilateral agreements.
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Ukraine Expanding Trade Treaty Network 4/18/2011 The Ukraine is making substantial additions to its free trade network, eyeing the conclusion of negotiations with the European Union, Canada, Israel and Singapore, and intensified cooperation with China, the Republic of Korea, and Brazil.
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Israeli Parliament Approves Oil Tax Regime 4/4/2011 The Israeli Parliament, the Knesset, has approved the 'Sheshinski Committee' Recommendations on the Fiscal Policy on Oil and Gas Resources in Israel, which has set royalty and tax rates for those companies benefitting from the discovery of major natural gas deposits off the Israeli coast.
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Israel Cancels Corporate Tax Cut 2/11/2011 The Israeli government is postponing a planned reduction in corporate income tax in order to fund a series of new tax and spending concessions, Benjamin Netanyahu announced in Tel Aviv on Thursday.
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Israel To Tax Hot Money Inflows 2/4/2011 The Israeli Minister of Finance, Dr Yuval Steinitz, has announced the decision to cancel the tax exemption granted to foreign investors on gains arising from investing in Makams (short-term loans issued by the Bank of Israel) and in short-term government bonds (issued by the Accountant General).
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Former Israel Tax Authority Head Sentenced 2/1/2011 Former Israeli Tax Authority director Jackie Matza, the first of the suspects in the country’s Tax Authority corruption scandal to be convicted, was sentenced on Sunday to a year in jail and another year’s suspended sentence.
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Israel's Budget Deficit Narrows 1/26/2011 According to estimates made by the Israel Accountant General's Department, the overall 2010 deficit amounted to NIS30.2bn (USD8.4bn). This constitutes 3.73% of GDP, compared to the deficit of 5.5% of GDP originally forecast in the state budget, in part due to higher tax revenues.
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Former Israeli Tax Authority Chief Confesses To Corruption Charges 1/10/2011 Former Israeli Tax Authority chief Jacky Matza confessed to corruption charges against him on Sunday, January 10, accepting a plea bargain that could reduce the penalty against him. Matza admitted both to offering bribes as well as to five counts of breach of trust.
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VAT Hiked Across Europe 1/5/2011 Consumers across Europe are facing increased prices as a result of a fresh wave
of Value-Added Tax increases introduced in the new year, in the UK, Switzerland
and five other countries.
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Israeli Gas Find Could Lead to Prompt Tax Changes 1/4/2011 There has been great excitement in Israel recently, with the confirmation by Houston-based Noble Energy Inc that an offshore gas field called Leviathan could contain 16 trillion cubic feet of gas. This would make it the world’s biggest deepwater gas find in a decade, with enough reserves to supply Israel’s gas needs for 100 years.
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OECD Notes Fall In Global Tax Burden 12/15/2010 The Organization for Economic Cooperation and Development has noted a decline
in revenues during 2009 among its member countries, in cash terms, which it
said was driven by declining economic activity, and tax cuts introduced
to cushion countries’ economies from the downturn.
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2011 Israeli VAT cut withdrawn 12/15/2010 The planned Israeli VAT cut from 16% to 15.5%, scheduled for January 1, 2011, has been withdrawn.
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Netanyahu Calls For Competitive Taxation In Israel 12/14/2010 Israeli Prime Minister Benjamin Netanyahu has said that Israel should introduce a system of competitive taxation to strengthen the country’s economic position.
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IMF Urges Israel To Tighten Fiscal Policy 12/1/2010 The International Monetary Fund has called on Israel to tighten fiscal policy faster than planned to keep inflation in check, suggesting that indirect taxes may need to be increased.
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Trade Ministers Look For Euro-Med Free Trade Area 11/15/2010 Working towards a full Euro-Mediterranean Free Trade Area and how to boost
Euro-Mediterranean trade and investment were on the agenda of a recent meeting
between The European Union Trade Commissioner, Karel De Gucht, and trade
ministers of the Union for the Mediterranean in Brussels.
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Israel Mulls Gas Extraction Tax 11/10/2010 Various leaks of information thought to come from the Sheshinski committee's interim conclusions, which are expected to be ready soon, are depressing market prices and causing apprehension among gas exploration companies active in Israel.
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Israel's Central Bank Doubts Fiscal Targets 11/9/2010 In the Bank of Israel’s Analysis of the 2011 and 2012 Draft Budget, the central bank explained that the multiannual deficit ceiling which caps the deficit at 1.5% of GDP in 2013 and 1% in subsequent years, may prevent future planned tax cuts from taking place.
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Canada, Israel To Expand FTA 10/11/2010 The Canadian Minister of International Trade, Peter Van Loan has concluded
a two-day visit to Israel, where it was
proposed that the two countries conduct exploratory talks to expand the Canada-Israel
Free Trade Agreement.
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'Global Privacy Enforcement Network' Launched 9/24/2010 Thirteen privacy enforcement agencies around the world have joined forces to launch
the ‘Global Privacy Enforcement Network’, a network designed
to facilitate cross-border cooperation in the enforcement of privacy laws.
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Switzerland Tops Competitiveness League 9/13/2010 Switzerland has claimed top spot in The Global Competitiveness Report 2010-2011,
as released by the World Economic Forum on September 9. In the rankings, the United
States has fallen two places to fourth position, overtaken by Sweden (2nd) and
Singapore (3rd), after already ceding the top place to Switzerland last year.
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Israeli Companies Question EMG's Duty Exemption 8/20/2010 While the Shesinski Committee considers the future of oil and gas regulation and taxation and plans to publish its findings before the end of October, gas exploration companies operating in Israel, including Delek Group and Noble Energy, are questioning in court the right of the East Mediterranean Gas Supply Company to import gas from Egypt free of import duty.
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Israel Mulls Oil And Gas Royalties Regime 8/12/2010 In April this year, the Israeli finance minister, Yuval Steinitz, set up a committee under Professor Eitan Sheshinski of Hebrew University to recommend policy including taxation on gas and oil finds, and to research the effects these may have on the Israeli economy. The committee will receive public submissions until August 15 and debate is hotting up.
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Austria, Israel Sign Tax Treaty 7/29/2010 Austria and Israel have initialed a revised tax treaty for the avoidance of double taxation between the two countries.
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Israel To Create Financial R and D Centres 7/28/2010 Israeli Finance Ministry Director General, Haim Shani, has visited New York in a bid to encourage international banks to set up research and development centres in Israel by offering attractive incentives.
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Israeli Firm Contests Brazilian Tax Notice 7/20/2010 Ituran Location and Control Ltd., an Israel based international group, which provides mobile asset location, and management
and control services for vehicles, cargo and personal security, has announced that its Brazilian subsidiary has received a Brazilian tax deficiency notice.
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Bank Of Israel Supports Tax Credit Extension 6/29/2010 The Bank of Israel has published a report on the implementation of the Earned Income Tax Credit Law summarizing the experience gained in the first year of the program, which was launched in September 2008 in certain areas.
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Israel To Close Group Purchase Tax Loopholes 6/28/2010 An Israel Tax Authority report has recommended reducing tax benefits for purchasing groups, and Finance Minister Yuval Steinitz proposes to incorporate the recommendations in the Economic Arrangements Bill for 2011.
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Israel Joins International Trademark System 6/4/2010 Israel has joined the international trademark system following the
deposit of its instrument of accession to the Madrid Protocol for the
International Registration of Marks.
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OECD Membership Grows 5/12/2010 The Organisation for Economic Cooperation and Development has agreed to invite Estonia, Israel and Slovenia to become members of the Organisation, paving the way for its membership to grow to 34 countries.
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China Remains Atop US IP Watchlist 5/4/2010 The Office of the United States Trade Representative has released its annual 'Special 301' Report on the adequacy and
effectiveness of US trading partners’ protection of intellectual
property rights, which again highlights the prominence of concerns with regards to lax enforcement of IP laws in China.
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Israel Signs Air Transport Agreement With Ukraine 2/24/2010 Israel’s Ministry of Foreign Affairs has announced the signing of a protocol
amending the current air transport agreement it holds with Ukraine, which is expected to be instrumental in the development of cooperation in aviation.
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