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Legal holidays in 2010 and 2011 are as follows: 20 ISRAEL – GENERAL OVERVIEW Holiday 2010 2011 Passover March 30 April 19 Independence Day April 20 May 9 Pentecost (Shavuot) May 19 June 8 Jewish New Year Sep. 9- Sep. 11 Sep. 29-Sep. 30 Day of Atonement (Yom Kippur) September 18 October 8 Feast of Tabernacles (Sukkot) September 23 October 13 BDO Israel
3. OVERVIEW OF ISRAEL’S HIGH-TECH INDUSTRY ∗ 3.1. ISRAEL’S HIGH-TECH INDUSTRY - INTRODUCTION The technology industry in Israel has been the driving force of the nation’s economy, and has played a prominent role in Israel’s economic development, particularly over the last decade. Only 25 years ago, most of the country’s technology was concentrated in military/security-related industries. Although Israel was not a major factor in the global hi-tech industry at the time, Israeli companies at present have a significant foundation in hi-tech industries worldwide and Israel ranks among the leading countries globally in the number of Nasdaq-listed hi-tech companies. Because the hi-tech sector became the primary engine for economic growth, despite the recession in the early 2000s, its recovery in 2005 was vital in bringing Israel’s economy back onto a sustainable growth path - reflected in a boost in investments, recruitment of capital, cutback in unemployment, hi-tech exports and corporate mergers – all of which have demonstrated precisely this. Various indicators show that, after a slight rise in 2005, growth was sustained in 2006 and 2007, marking an improvement in hi-tech. However, given the credit crunch in 2008, the financial resources available for the hi-tech industry have declined significantly, causing hi-tech and start-ups companies to lay off employees or shut down completely. This trend continued during the first half of 2009. However, in mid-2009 it became clear that the influence of the global crisis on Israel was relatively mild. Consequently, the market started showing an upward trend, which continued in 2010. The Israeli high-tech market developed in 2010, as demonstrated by the improvement noted in three significant indicators for market recoveries: New jobs: This indicator is considered to be the most important one. It should be noted that despite the upward trend commencing February 2009, the number of new jobs has still not reached the pre-crisis level of end 2008. Number of work offers received by job seekers. Length of recruitment process (starting from applicant’s first interview with a recruiting company, until the applicant actually signs an employment agreement). ∗ This chapter is based on data gathered by IVC Research Center, January 2011 BDO Israel 21
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8.6.1. Definitions: 130 ♦ Israeli
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8.10. TAX TREATIES 136 TAXATION As
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138 Dividends % Interest % TAXATION
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140 FOREIGN EXCHANGE CONTROL AND PR
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11.2. KEY FIGURES FOR DECEMBER 31,
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Example A NIS Example B NIS APPENDI
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APPENDIX 2 Industrial enterprises m
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Ministry of Justice 29 Tsalch Adin
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Israel - US Binational Industrial R
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BRAZIL Embassy of Israel S.E.S Av.
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ECUADOR Embassy of Israel Av. La Co
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