The Knesset Finance Committee on Wednesday evening approved for its second and third readings the JNF Law, which would oblige the Jewish National Fund (JNF) to transfer annual sums of money to state coffers to fund national infrastructure projects.
The law states that the JNF has two options: The first would be to transfer to the state 2 billion shekels (65% of the JNF's income) in the years 2018 and 2019 (one billion shekels each year), and then to receive tax exemptions until the end of 2023. The second option would be to arrange its tax payments in installments starting January 1, 2018.
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