Middle East Economic Survey

VOL. LIV

No 13

28-Mar-2011

israel

Sheshinski Hydrocarbon Tax Proposal Passes Knesset Finance Committee

Legislation designed to increase the amount of tax paid by energy companies on profits accrued through the sale of hydrocarbons was passed by Israels Knesset Finance Committee on 23 March. The legislation, known as the Sheshinski Committee recommendations, proposes that a 12.5% royalty be maintained on oil and gas production licenses and that a progressive tax of...