The Israel Parliament recessed for a summer vacation and the High Holidays today after Speaker Joseph Sprinzak voiced a fervent appeal for world peace and for peace between Israel and her neighbors.
One of the Knesset’s last official acts before the recess was the adoption of amendments to the income tax law which give businessmen the right to deduct from tax returns losses incurred in previous years. The deductions may be made even if the taxpayer suffered the losses in a business other than the one in which he is currently engaged.
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