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80 INVESTMENT INCENTIVES AND TRADE ADVANTAGES Below is a description of the process for obtaining the status of "approved enterprise": 7.2.2.5. Determining Priority Regions A and B In accordance with the provisions of the Law for the Encouragement of Capital Investments, development regions will be determined according to a number of criteria. These comprise a combination of the following factors: geographic location (priority given to Jerusalem, the South and North, Sderoth and the Gaza Envelope), socio-economic level, unemployment rate, location within Israel’s industrial sectors or in the minorities settlements (settlements where 80% of the residents are non-Jews). For a detailed review of the above - see Ministry of Commerce, Industry and Labor website: http://www.tamas.gov.il/CmsTamat/Ishuvim.aspx?sValue BDO Israel
7.3. DEPRECIATION BDO Israel DOING BUSINESS IN ISRAEL The regular Depreciation rate determined in the income tax (Depreciation) regulation-1941 ("Depreciation Regulation"). Under the Depreciation Regulation, the main depreciation rates are as follows: Asset Depreciation rate Equipment and machinery (general) 7% Electricity plant (equipment) 7% Buildings 2%-4% Computers 25%-33% Electronic and Computing equipment 15% Vehicles 15% 7.3.1. Accelerated Depreciation Approved beneficiary and preferable enterprises are eligible for accelerated depreciation on tangible assets, reaching 400% of standard depreciation rates on buildings (not exceeding 20% per annum and exclusive of land), and 200% on equipment. The tax authorities may allow increased rates of up to 250%, if there is evidence of a high depreciation rate of equipment. This benefit is available for a 5-year period from date of commencement of operation rather than from purchase date of asset, and implementation thereof depends on the type of each particular asset as well as various rules. Furthermore, special provisions were enacted in the Law for the Encouragement of Industry (Taxes), 1969 to grant favored enterprises accelerated depreciation. The Income Tax (Inflationary Adjustments) (Depreciation Rates) Regulations-1986, provides special depreciation rates to industrial plants and hotels with regard to specific fixed assets. The regulations are valid despite of the annulment of the Income Tax (Inflationary Adjustments) Law. The terms "industrial plant" and "industrial company" are defined in the Law for the Encouragement of Industry (Taxes). An ''industrial company'' is defined as "a company resident in Israel deriving at least 90% of its income in a tax year from an ''industrial plant'' owned by it". An ''industrial plant'' is a term which applies to companies engaged primarily in production. The regulation offers 5% depreciation for buildings owned industrial companies, which function as industrial plant. 81
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PREFACE This publication has been p
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7. INVESTMENT INCENTIVES AND TRADE
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8 THE ISRAELI ECONOMY IN 2010 The I
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1.2.4. Fiscal Developments 10 THE I
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12 THE ISRAELI ECONOMY IN 2010 1.2.
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14 THE ISRAELI ECONOMY IN 2010 Comp
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16 ISRAEL - GENERAL OVERVIEW Israel
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2.4. ISRAEL’S CURRENCY 18 ISRAEL
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Legal holidays in 2010 and 2011 are
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22 OVERVIEW OF ISRAEL’S HIGH-TECH
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Page 32 and 33: OVERVIEW OF ISRAEL’S HIGH-TECH IN
Page 34 and 35: 32 BUSINESS STRUCTURE The Companies
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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 56 and 57: 5.3. INTERNATIONAL TRADE 54 BUSINES
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
Page 108 and 109: 106 TAXATION Under the recent tax r
Page 110 and 111: 108 TAXATION (d) More than 50% of o
Page 112 and 113: 110 TAXATION 8.2.2.6. Dividends Rec
Page 114 and 115: 112 TAXATION (3) Location of fixed
Page 116 and 117: 114 8.2.3.4. Rental Income from Out
Page 118 and 119: 116 TAXATION "Accommodating Year”
Page 120 and 121: 118 TAXATION "Privileged Securities
Page 122 and 123: 120 TAXATION 8.2.4.3. Tax exemption
Page 124 and 125: 8.3.4. Sale of Stocks 122 TAXATION
Page 126 and 127: 124 TAXATION 8.3.7.3. Setting-off C
Page 128 and 129: 126 TAXATION ♦ According to the r
Page 130 and 131: 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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