Israel’s Finance Minister Levi Eshkol today told the Parliament that he is willing to reduce the rates of the compulsory immigration loan which has already passed the first reading in Knesset. The opposition parties demand that the loan be suspended pending clarification of the fate of further emigration of Jews from Rumania. Hope that Rumanian emigration would soon be fully resumed was expressed today by Premier David Ben Gurion at a press conference in Eilath.
Mr. Eshkol also told the Knesset that prospects were good for United States Treasury recognition of tax benefits granted by Israel to American investors in approved enterprises here.
Under the projected arrangement, the U.S. Treasury would consider Israel taxes from which investors here are exempted as paid in Israel. Thus, Israel tax exemptions would accrue to the benefit of the investors and not be paid as a United States tax. Currently, American investors are exempted from paying taxes on such profits only if they actually pay such taxes in the countries in which the profits are earned.
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