Israel Innovation Authority Eases up on Entrepreneurs’ Grant Repayments | Adv. Ofer Granot To “Calcalist”
11 May 2017
The Authority has updated its protocols, with particular focus on small technology companies previously awarded grants from the Israel Innovation Authority, which they will now be entitled to repay at a rate of 3% of their annual revenue, rather than 3.5%.
“In a very short space of time, we managed to push through a revision of the royalties regulations. We righted historic injustices [within the regulations] and made adjustments to procedures in place for many years”. In addition, according to Adv. Granot, Tax and Incentives Partner at Herzog, Fox and Neeman, whilst these updates are crucial, there is still scope for improvement, particularly with regard to multi-national companies.