JERUSALEM, Nov. 29 (Xinhua) -- Israel announced on Monday a national plan aiming to return Israelis living abroad and integrate them in the Israeli hi-tech industry.
The plan, initiated by Finance Minister Avigdor Lieberman and Minister of Innovation, Science and Technology Orit Farkash-Hacohen, includes tax benefits, as part of a broader program to solve the shortage of workers in Israeli hi-tech companies.
Under the plan, a returning resident who left Israel more than one year ago will not have to pay taxes on options and on assets accumulated outside Israel.
In addition, expenses related to relocation back to Israel and adjustment in the first two years will be deductible when calculating tax.
Non-Israeli Jews, entitled to immigrate to the country under Israeli law, will also be eligible for the benefits if they join the Israeli hi-tech sector, as well as reduced income tax rate in the first two years. Enditem
