Tshuva expresses anger with gov't's proposed gas tax levy

November 12, 2010 21:28
1 minute read.

Israeli gas billionaire Yitzhak Tshuva expressed anger and disgust with the government's recommendation to raise a tax levy on exploited natural resources based on the findings of the Shishensky committee in an interview with Channel 2 anchor Yair Lapid that aired Friday night.

Tshuva, who repeatedly referred to himself in the third-person during the interview, claimed to Lapid that he had not even been invited to testify before of the committee despite the potentially important effect its findings stood to have on the value of his large offshore natural gas holdings. He also claimed that no experts in the field or from the Israeli business community were called to provide expert testimony to the committee before it reached its findings.Not only did the Israeli magnate express disappointment on behalf of the Israeli business community with the perceived lack of due process and honest dealing by the government in reaching its decision to raise taxes on natural resources. In particular, Tshuva expressed disbelief that Finance Minister Yuval Steinitz supported the committee's decision to raise taxes on the already operating Tamar field.

"I and the bankers who invested billions [of shekels] into the field received previous guarantees from the finance ministry [regarding future liabilities towards the state]," said Tshuva.

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