14:15
Reported

News Brief

  7/16/2013, Av 9, 5773

Teva, Check Point & Others Receive Big Tax Breaks


During the years of 2006-2011, Teva Pharmaceuticals received a combined total of tax benefits of about 11.77 billion shekels. The drug manufacturer is now said to be receiving the largest tax benefits of any company from the state. The figures were revealed on Tuesday by the tax authority. During the same years, Check Point, a network security company received tax benefits totaling of 1.65 billion shekels. Other big companies who earned tax benefits were Elbit Systems and Rafael defense systems. The Treasury ministry stated, "the tax benefits were previously published under the Encouragement of Capital Investments which were approved by the government and the Knesset. These benefits are now being re-examined by Finance Minister Yair Lapid in order to adapt them to the needs and economic reality."