MK Dov Khenin (Hadash), Labor Party chairwoman MK Shelly Yachimovich, MK Moshe Gafni (United Torah Judaism), MK Moshe Mizrahi (Labor) and MK Meir Sheetrit (Hatnua), tabled on Wednesday a bill for transparency and disclosure of tax assessments of big companies. The bill was written with the Movement for Freedom of Information and aims to disclose information about tax assessments, which is currently confidential, of public companies by the Israel Tax Authority.

MK Khenin said: “The press published data that Teva Pharmaceutical Industries received a NIS 3 billion tax break from the government in 2011. This is inconceivably huge amount, which is especially grating given the drop in tax revenues and the government’s intention to levy new taxes on the working class, raise VAT, and harm universities funds. Employees at these companies, and in general, are getting hit with painful demands, while the controlling shareholders are not sharing the burden and continue to reap huge profits.”  The bill seeks to apply to the Tax Authority the same disclosure that exists with the Securities Authority, which will expose the tax assessments for companies and what they pay. The objective is to increase transparency and present the true financial soundness of public companies to workers and the general public.

Related:

http://maki.org.il/en/society/125-news/11701-universities-protested-planned-budget-cuts-with-a-strike