Connect with us

Hi, what are you looking for?

Jewish Business News

Court

Sammy Ofer’s estate faces $247 million tax bill

The Haifa District Court is considering whether Ofer was an Israeli resident in 2006-2010.

Sammy Ofer

The Israel Tax Authority is demanding payment of about $247 million from the estate of billionaire Sammy Ofer, who passed away on June 3, 2011 at the age of 89, according to an order issued by the Tax Authority in 2013 to the estate executors. The order concerned Ofer’s income in 2006-2010. The estate executors appealed the order to the Haifa District Court.

In the dispute, the court is being asked to rule on the issue in principle of Ofer’s residence – whether he was an Israeli resident during the years in question, as asserted by the Haifa tax assessor, or a foreign resident, as claimed by the estate executors. The decision will have a major effect on the amount of tax owed to the Tax Authority. The Tax Authority demanded almost $263 million in the 2013 order, but the real amount in dispute is still unknown and greatly dependent on the court’s decision.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.

Continue reading

GLOBES logo-eng (1)Published by Globes [online], Israel business news – www.globes-online.com

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Life-Style Health

Medint’s medical researchers provide data-driven insights to help patients make decisions; It is affordable- hundreds rather than thousands of dollars

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Leadership

Jews are disproportionately represented on the roster of the richest business people, with 10 Jews among the top 50 (20%), and 38 (19%) Jews...