Taxation of Oils and Solvents – Following the Harsh Criticism in the Finance Committee Discussion

On January 23, 2023, a significant discussion was held in the Finance Committee following requests from the Manufacturers Association of Israel and various industries to ease taxation of oils and solvents for the benefit of the industry, as well as following the intent of the Israel Tax Authority to add a number of substances to the list of substances subject to taxation.

According to a statement from the finance committee, the chairman of the finance committee, MK Gafni, told the representatives of the Israel Tax Authority that “you need to find a comprehensive solution, we need to encourage the local industry, and it cannot be this way.”

In a special webinar on this matter, we will discuss the following topics:
The various reliefs discussed
The window of opportunity opened for the various industries
Expansion of taxable materials.