The Limited Times

Now you can see non-English news...

Charge: Shraga Brosh defrauded income tax Israel today

2020-07-23T14:04:04.363Z


| TrialCypress and his brother evaded paying a tax of about one and a half million shekels, by submitting forged documents to the income tax, according to which the company they own is a "family company" that enjoys a reduced tax on capital gains. Shraga Brosh Photo:  Dudu Greenspan An indictment was filed today against Shraga Brosh, an industrialist and former president of the Manufacturers' Associ...


Cypress and his brother evaded paying a tax of about one and a half million shekels, by submitting forged documents to the income tax, according to which the company they own is a "family company" that enjoys a reduced tax on capital gains.

  • Shraga Brosh

    Photo: 

    Dudu Greenspan

An indictment was filed today against Shraga Brosh, an industrialist and former president of the Manufacturers' Association, for submitting a false report in order to evade paying a tax of about NIS 1.5 million. Brosh currently serves as chairman of the Coordination Bureau of Economic Organizations and as chairman of the Israeli Center for Citizen Empowerment.

According to the indictment, Shraga and his brother Yariv owned an equal share (50%) in ALA Investments Ltd., a holding company that held shares in Oshard Natural Gas Ltd., which purchased natural gas from the Tamar drilling rig and sold it to customers. The company's accountant was Michael Bar Levav.

During 2015, ALA sold part of its shares in Oshard, a sale that generated a capital gain of NIS 8.6 million. According to the tax laws, a company whose members are family members and three months after its establishment, an application has been submitted to recognize it as a family company - special tax provisions will apply to it, a tax benefit for capital gains, but ALAAA. Was not founded as a family company.

According to the indictment, in 2015, Brosh and the accountant Bar Levav decided to defraud the income tax by sending forged documents according to which an application was submitted to recognize the company as a family company on the date allowed by law (after 3 months of the company's establishment). According to the indictment, Brosh and Bar Levav submitted documents to the assessee according to which the application was allegedly submitted to the company's list as a family in 2014 - but for some reason was not "handled" by the tax office in Nazareth. 

 Due to the false statement, the company was classified as family. Thus, instead of paying NIS 4.3 million in tax, only NIS 2.7 million was paid, and the defendants evaded paying NIS 1.55 million in tax. 

Source: israelhayom

All news articles on 2020-07-23

You may like

Trends 24h

News/Politics 2024-03-27T16:45:54.081Z
News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.