Israel Tamar natural gas plant start paying taxes on profit

in LeoFinance6 months ago

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Prime Minister Benjamin Netanyahu said crores of rupees from the sale of natural gas would be invested abroad through an all-India microfinance fund and brought home for education, welfare and other services.

Bank of Israel Deputy Governor Andrew Abir told Reuters this month that the minimum required to start investing would not reach the end of 2021.

Delek said it would start paying taxes in early 2021, and by the end of 2025 alone, the state's revenue was expected to reach about 8 billion shekels and about 15 billion shekels, including royalties and taxes.

The fund, which aims to protect Israeli currency from overheating due to the sudden influx of natural gas revenue, was set up in 2018, but political instability and gradual revenue delays.

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