Middle East Economic Survey

VOL. LIV

No 14

1-Apr-2011

israel

Knesset Passes New Hydrocarbon Tax Law

The Israeli Knesset on 30 March passed into law by a vote of 78 to two a new hydrocarbon tax law based upon the recommendations made last year by the Sheshinski Committee, formed by the Ministry of Finance to assess Israels tax regime for natural resources (MEES, 22 November 2010). The new law will see Israels royalties and tax levy on profits made from the sale of natural resources rise from...