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5.3. INTERNATIONAL TRADE 54 BUSINESS ENVIRONMENT Israel has extensive business relationships worldwide. The table below summarizes Israel’s international trade in 2010 (excluding Diamonds). Import Export US$ mill % US$ mill % Grand Total 50,732 100.00% 42,032 100.00% Europe 22,036 43.44% 15,218 36.21% European Union 17,614 34.72% 12,653 30.10% Italy 2,422 4.77% 1,212 2.88% Belgium 1,337 2.64% 858 2.04% Germany 3,672 7.24% 1,656 3.94% Netherlands 2,102 4.14% 1,818 4.33% United Kingdom 1,706 3.36% 2,015 4.79% Spain 975 1.92% 1,031 2.45% France 1,516 2.99% 1,179 2.80% Other European Union Countries 3,885 7.66% 2,885 6.86% Association (E.F.T.A.) 2,254 4.44% 211 0.50% Switzerland 2,175 4.29% 150 0.36% Other E.F.T.A Countries 79 0.16% 61 0.15% Other European Countries 2,169 4.27% 2,354 5.60% Turkey 1,799 3.55% 1,309 3.11% Russian Federation 211 0.42% 785 1.87% Other Countries in Europe 159 0.31% 260 0.62% Asia 11,368 22.41% 8,380 19.94% India 714 1.41% 1,691 4.02% Hong Kong 770 1.52% 458 1.09% Taiwan 708 1.40% 700 1.66% Japan 1,763 3.47% 606 1.44% China 4,712 9.29% 1,738 4.14% Singapore 696 1.37% 443 1.05% South Korea 1,101 2.17% 845 2.01% Thailand 428 0.84% 231 0.55% Other Asian Countries 478 0.94% 1,668 3.97% Africa 567 1.12% 1,260 3.00% America 7,098 13.99% 14,694 34.96% North America 6,432 12.68% 12,655 30.11% USA 5,924 11.68% 11,683 27.80% Mexico 179 0.35% 304 0.72% Canada 329 0.65% 667 1.59% Central America 47 0.09% 563 1.34% South America 620 1.22% 1,476 3.51% Oceania 142 0.28% 504 1.20% Unclassified Countries 9,521 18.77% 1,976 4.70% Source: Central Bureau of Statistics, Israel, Israel's Foreign Trade by Countries, December 2010. BDO Israel
BDO Israel DOING BUSINESS IN ISRAEL The import of goods totaled $50.7 billion in 2010, compared to $42.03 billion in exports. Total trade deficit (excluding diamonds) totaled $8.7 billion, in comparison to $5.9 billion in 2009. 36.21% of goods exported (excluding diamonds) was directed to the EU countries, 27.8% to the U.S. and 19.94% to Asia. Development of trade in goods in 2010, compared with 2009, was influenced mainly by the changes in prices which continued throughout 2010, as well as by changes in the value of the dollar against other currencies in which import and export transactions are conducted. The anticipated incoming tourism for 2010 has increased by 26% in comparison to the previous year. The table below illustrates tourist traffic to Israel in recent years: INCOMING TOURISTS Year Thousands 2000 2,672 2001 1,219 2002 862 2003 1,063 2004 1,506 2005 1,916 2006 1,834 2007 2,294 2008 3,034 2009 2,740 2010 3,450 Source: Central Bureau of Statistics Israel, Arrivals and Departures of Israelis and visitors from abroad, 2010. 55
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PREFACE This publication has been p
Page 7: 7. INVESTMENT INCENTIVES AND TRADE
Page 10 and 11: 8 THE ISRAELI ECONOMY IN 2010 The I
Page 12 and 13: 1.2.4. Fiscal Developments 10 THE I
Page 14 and 15: 12 THE ISRAELI ECONOMY IN 2010 1.2.
Page 16 and 17: 14 THE ISRAELI ECONOMY IN 2010 Comp
Page 18 and 19: 16 ISRAEL - GENERAL OVERVIEW Israel
Page 20 and 21: 2.4. ISRAEL’S CURRENCY 18 ISRAEL
Page 22 and 23: Legal holidays in 2010 and 2011 are
Page 24 and 25: 22 OVERVIEW OF ISRAEL’S HIGH-TECH
Page 32 and 33: OVERVIEW OF ISRAEL’S HIGH-TECH IN
Page 34 and 35: 32 BUSINESS STRUCTURE The Companies
Page 36 and 37: 34 BUSINESS STRUCTURE with respect
Page 38 and 39: 36 BUSINESS STRUCTURE recommendatio
Page 40 and 41: 38 BUSINESS STRUCTURE TASE regulati
Page 42 and 43: 40 BUSINESS STRUCTURE ♦ Non-profi
Page 44 and 45: 4.2.2. Prerequisites 42 BUSINESS ST
Page 46 and 47: 44 BUSINESS STRUCTURE As mentioned
Page 48 and 49: 46 BUSINESS STRUCTURE 4.3. INSURANC
Page 50 and 51: 5.1.2. Distribution of Employees 48
Page 52 and 53: 50 BUSINESS ENVIRONMENT As of Janua
Page 54 and 55: 5.2. ANTITRUST LAW 52 BUSINESS ENVI
Page 58 and 59: 5.4. TRADE AGREEMENTS 56 BUSINESS E
Page 60 and 61: 5.5. PROPRIETARY RIGHTS 58 BUSINESS
Page 62 and 63: 60 ACCOUNTING AND AUDITING PERSPECT
Page 76 and 77: 74 INVESTMENT INCENTIVES AND TRADE
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104 INVESTMENT INCENTIVES AND TRADE
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106 TAXATION Under the recent tax r
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108 TAXATION (d) More than 50% of o
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110 TAXATION 8.2.2.6. Dividends Rec
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112 TAXATION (3) Location of fixed
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114 8.2.3.4. Rental Income from Out
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116 TAXATION "Accommodating Year”
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118 TAXATION "Privileged Securities
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120 TAXATION 8.2.4.3. Tax exemption
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8.3.4. Sale of Stocks 122 TAXATION
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124 TAXATION 8.3.7.3. Setting-off C
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126 TAXATION ♦ According to the r
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8.5. TAXATION OF TRUSTS 128 TAXATIO
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8.6.1. Definitions: 130 ♦ Israeli
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132 5) Certain services rendered to
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8.8.6. Real Estate Companies 134 TA
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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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10.3. ISRAEL LAND ADMINISTRATION OF
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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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IVORY COAST (COTE D’IVOIRE) Embas
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PANAMA Embassy of Israel Edificio P
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THAILAND Embassy of Israel Ocean To
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REPUBLIC OF THE FIJI ISLANDS Embass
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