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94 INVESTMENT INCENTIVES AND TRADE ADVANTAGES ♦ Small exporter - exports up to US$ 7 million per annum, with total annual turnover exceeding US$ 4 million, or exports exceeding US$ 2 million and less than US$ 7 million per annum, and total annual turnover not exceeding US$ 15 million. Such exporter is entitled to a grant of up to 30% of current marketing expenses plus up to 50% of specific marketing expenses not exceeding US$150,000. The volume of the proposed marketing plan shall not be less than US$ 200,000. ♦ Medium exporter - exports exceed US$ 7 million and below US$15 million per annum, with total annual turnover not exceeding US$ 30 million. Such an exporter is entitled to a grant of up to 30% of current marketing expenses not exceeding US$ 250,000, plus up to 50% of specific marketing expenses. The volume of the proposed marketing plan shall not be less than US$ 400,000. The proposed marketing plan is for a 12 month period. The fund may pay in advance up to 30% of the approved grant, and the remainder according to actual payments effected by the company. Should the eligible company implement less than 40% of the proposed plan, it is obligated to repay the advance payment. Implementing less than 60% of the plan will disqualify the company from obtaining grants for the following year. The following companies and industries are eligible for assistance under special terms and conditions: ♦ Export companies (as defined in the fund's guidelines). ♦ Start-ups. ♦ International joint projects. ♦ The film industry. ♦ E-commerce. ♦ Diamond merchants and jewelers. Due to lack of resources, the fund was not active in 2004. It is quite likely that this will also be the situation in the near future. Instead, the Ministry is establishing a fund under the same principles, to promote marketing activities for companies which have joined forces in order to benefit from the said assistance. BDO Israel
7.8. SPECIAL FREE ZONES 7.8.1. Eilat Free Trade Zone BDO Israel DOING BUSINESS IN ISRAEL Eilat and its surrounding area were declared to be a free trade zone. The major benefits are as follows: ♦ Companies providing services and/or resident in Eilat are exempt from value-added-tax. ♦ Employers are reimbursed for part of labor costs paid in Eilat. ♦ Providers of advisory services to hotels in Eilat are exempt from value-added-tax. 7.8.2. Free Port Zones The ports of Haifa, Ashdod, and Eilat contain areas declared as free port zones. Companies (only) located in the free port zones are eligible for benefits, granted in addition to any other benefit to which these companies are entitled under other encouragement laws. These additional benefits include: ♦ Lower corporate tax rates (in Eilat). ♦ Lower withholding tax on dividends (in Eilat). ♦ Exemption from property tax. ♦ Unrestricted use of foreign currency. At present, the legislation in respect of free ports zones has not been enacted. 7.8.3. Free Processing Zones In June 1994, the Free Processing Zone Law was enacted but its amendment in the near future is almost certain. The first zone under this law is currently in the planning stages and will be located near Beer Sheva, in the Negev. Free processing zones may be developed by private concessionaires only, in compliance with a number of financial and organizational restrictions. Some of the benefits to the concessionaires and enterprises operating in such zones are as follows: ♦ Companies are fully exempt from any direct tax for up to 20 years. Other entities are subject to direct tax of 15 %. 95
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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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OVERVIEW OF ISRAEL’S HIGH-TECH IN
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32 BUSINESS STRUCTURE The Companies
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34 BUSINESS STRUCTURE with respect
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36 BUSINESS STRUCTURE recommendatio
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38 BUSINESS STRUCTURE TASE regulati
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40 BUSINESS STRUCTURE ♦ Non-profi
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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
Page 132 and 133: 8.6.1. Definitions: 130 ♦ Israeli
Page 134 and 135: 132 5) Certain services rendered to
Page 136 and 137: 8.8.6. Real Estate Companies 134 TA
Page 138 and 139: 8.10. TAX TREATIES 136 TAXATION As
Page 140 and 141: 138 Dividends % Interest % TAXATION
Page 142 and 143: 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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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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