steventhedev@lemmy.world
on 26 Dec 2023 19:31
nextcollapse
Intel, whose investment will be over five years, will pay a corporate tax rate of 7.5% instead of 5% previously. The normal tax rate is 23%, but under Israel’s law to encourage investment in development areas, companies receive large benefits.
Usually these types of grants are never a good investment but the increased corporate tax rate alone covers a third of the grant (9b yearly taxable revenue at 2.5% over 5 years comes out to 1.125b).
AstridWipenaugh@lemmy.world
on 26 Dec 2023 20:22
nextcollapse
That’s the same kind of logic you use about how much you saved when you buy something on sale. Would have saved more if you didn’t buy it at all; Israel would collect more tax money if they didn’t give them massive subsidies and tax breaks.
NoneOfUrBusiness@kbin.social
on 27 Dec 2023 04:33
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Does "development area" include West Bank settlements? If so this is extra-disgusting.
CriticalMiss@lemmy.world
on 27 Dec 2023 05:01
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No, the south. They already have a factory outside Kiryat Gat, I’m assuming they’ll just expand their operations there
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Usually these types of grants are never a good investment but the increased corporate tax rate alone covers a third of the grant (9b yearly taxable revenue at 2.5% over 5 years comes out to 1.125b).
That’s the same kind of logic you use about how much you saved when you buy something on sale. Would have saved more if you didn’t buy it at all; Israel would collect more tax money if they didn’t give them massive subsidies and tax breaks.
Does "development area" include West Bank settlements? If so this is extra-disgusting.
No, the south. They already have a factory outside Kiryat Gat, I’m assuming they’ll just expand their operations there
Literally everything about that title is gross.
And that’s why I’m forever AMD
This is why BDS is important.