Chamber Hosts Energy Ministry DG Mr. Shaul Meridor

The Chamber Energy Committee hosted Mr. Shaul Meridor the Director General of the Ministry of Energy at a breakfast meeting attended by 35 of the energy sector business executives.  The meeting was hosted by Energy Committee Chair Mr. Zvi Rome, CEO of Petco International and Chamber CEO Oded Rose.

Mr. Meridor addressed a number of burning issues such as the Natural Gas market, the reform of the electricity market and renewable energy.  With regards to the natural gas supply and distribution he said that as long as fuel prices are above $38 pbbl, it is economical to switch industrial users to gas but that the problem is more with management attention. The ministry is making every effort, he said, to reduce barriers and provide incentives including financial ones to help industrial users connect to the gas grid. He also mentioned a couple of trials to connect new neighborhoods to the NG grid (in Dimona and Tel Aviv), and that next year new busses and trucks will switch to NG engines. One of the ministry's main efforts is to restore industry confidence in the NG grid hook-up process.

Regarding other forms of energy, Mr. Meridor said that the ministry is committed to increase the reliance on renewable energy such as solar and some wind and reduce the use of coal to a minimum.

The event in the press:

 

The Chamber is happy to announce that after several years and much thanks to our Visa Committee headed by Adv. Zvi Kan-Tor, this week the Israeli Government gave its approval to all required changes to enact the E2 Investor Visa.  It is expected that all procedures will be in place in the next couple of months and then investors may start applying for such visas. Israelis for U.S. E2 Visas and vice versa Americans for Israeli E2 Visas. FOr more information please This email address is being protected from spambots. You need JavaScript enabled to view it.

Chamber Tax Committee headed by Yitzchak Chikorel, International Tax Leader at Deloitte Israel a Chamber member, is addressing a recent development in the importation taxes arena.  Due to recent court decision in the case of Gottex, the Israeli tax authorities are now considering adding royalty payments made by Israeli concessionaires to the foreign owners of the brand, as part of the value of the import value of their goods for custom duty purposes. This may lead to double tax liability, the first is the withholding taxes on the royalty payments, and the second is the custom duty on the increased value of imported goods. 

That development may lead to additional consequences in the analysis of payments made for the import of goods and braking those payments into different economical components (like attributing part of the payments to the trade mark or goodwill thus treating part of the payment as royalty).

To join the Tax Committee activity please This email address is being protected from spambots. You need JavaScript enabled to view it..

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