HALISTER1: Lax Controls Cost Israel More Than 1b Shekels: Govt Watchdog

Lax Controls Cost Israel More Than 1b Shekels: Govt Watchdog

(Bloomberg) -- Israeli State Comptroller Joseph Shapira finds evidence of money laundering, unregulated tax breaks and improper hiring in annual government audit.
  • Real estate tax structure enables money laundering, boosts housing prices: Shapira
  • Unidentified foreign investment fund exempted from 1 billion shekels in taxes under government’s discretion, says process lacks clear criteria
  • Senior executives at state-owned Rafael Advanced Defense Systems hired without search committees, a “violation of principles of equality and fairness”
  • NOTE: July 12 Netanyahu Scolded by Watchdog Over Links to Telecom Giant (1)
To contact the reporter on this story: Jonathan Ferziger in Tel Aviv at jferziger@bloomberg.net To contact the editors responsible for this story: Alaa Shahine at asalha@bloomberg.net Michael S. Arnold

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283