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Israel’s new “Angels Law” grants tax benefits to investors in Israeli startups, and in the Israeli high-tech industry in general, with the goal of spurring the growth of high-tech companies based in Israel or whose intellectual property is registered in Israel.
The Israeli High Court of Justice ruled recently that section 46 of the Income Tax Ordinance does not authorize the Knesset Finance Committee to exercise broad discretion in recognizing NPOs and in fact the Committee’s approval is limited solely to that related to its supervisory role.