Israel’s Finance Ministry is putting together tax incentives for potential billionaire immigrants.
Under a plan championed by Finance Minister Roni Bar-On, major Jewish magnates who agree to move to Israel would receive sweeping income tax exemptions for 10 years, Channel 10 television reported Monday.
The perks could be extended if the billionaires invest in Israel’s underprivileged peripheral communities.
Israel has been alert to a potential dollar drain since diamond tycoon Lev Leviev relocated to London in January, though he denied the move was a response to economic conditions in the Jewish state.
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