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ICL Pays Out $400 Million to Israeli Government in Potash Royalties
May. 06, 2013 07:05AM PST
Potash Investing
Globe reported that ICL paid the Israeli government NIS 400 million in potash royalties in 2012. As quoted in the Globe report: Israel Chemicals transfers NIS 1.5 billion as the government’s take, in the form of direct taxes, royalties, and the dividends tax, amounting to 41% of the company’s profits in Israel,” said Israel Chemicals […]
Globe reported that ICL paid the Israeli government NIS 400 million in potash royalties in 2012.
As quoted in the Globe report:
Israel Chemicals transfers NIS 1.5 billion as the government’s take, in the form of direct taxes, royalties, and the dividends tax, amounting to 41% of the company’s profits in Israel,” said Israel Chemicals Ltd. (TASE: ICL) in a statement today. “In the coming years, Israel Chemicals will pay even more, as a result of changes in the tax policy toward the company, and the government’s take will reach 56%. In addition, the government receives up to an additional NIS 2 billion in indirect taxes on the company’s activity.