Sheshinski: State to double revenue from gas, oil taxes

January 3, 2011 19:28

The Sheshinski Committee, which deals with taxation and concession payments for companies benefiting from Israel’s oil and gas resources, delivered its interim recommendations Tuesday. It decided to raise taxes that the state will receive from drilling from the current rate of thirty percent to between 52% and 62%.

The conclusions were presented at a special press conference Monday after nine months of discussions.

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