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News Briefs

  אדר ב 18, 5768 , 25/03/08

Bar-On To Offer Incentives to Billionaire Olim

Finance Minister Ronnie Bar-On is preparing a plan to exempt foreign Jewish billionaires from income taxes if they move to Israel, Channel 10 television reported. Further benefits will be provided if the tycoons invest in areas outside of Israel's major urban centers.

Many wealthy Jews in the Diaspora own residences in Israel but prefer to occasionally visit without moving to the Jewish state. The Finance minister's proposal does not detail any tax breaks for the bulk of Israel's middle-income new immigrants.

Other archived news briefs:Mar 25 2008, 08:52 AM, 3/25/2008