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Elbit Systems wins contracts worth $85m in Asia
Elbit Systems (ESLT) announced today that it has been awarded contracts from an Asian country in a total amount of approximately $85 million. Most of the amount is for an F-5 aircraft avionics upgrade program and the balance is for the supply of electro-optic and communications systems. The contracts will be performed over a three-year period. (more…)
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Gov’t approves limits to cash transactions
The government has unanimously approved the recommendations of the committee on limiting the use of cash in the economy headed by director of the Prime Minister’s Office Harel Locker. The aim is to combat black capital and money laundering. The committee estimates the extent of the black economy at 20% of GDP, leading to a loss of state revenue of NIS 40-50 billion annually. (more…)
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Israel tax system
From 1.1.2014 the corporate tax in Israel has increased to 26.5% from 25%.
On dividend a shareholder that hold 10% and above will pay 30%, all the other will pay 25%