32 Friday, July 23, 1976 THE DETROIT JEWISH NEWS Peace, Tax and Treaty Incentives Encourage Investment in Israel NEW YORK — The fra- gility of Middle East politics notwithstanding, Israel seems to be re-emerging as an attractive investment site for certain foreign investors, mostly U.S. com- panies. According to Israeli officials, incoming foreign investments, which reached $185 million in 1973, totaled a mere $43 million in 1974 and almost ground to a halt in early 1975, are now on the upswing. The Israeli Invest- ment Authority points out that over 30 firms from the U.S. alone located or ex- inducements, the easing of panded plants in Israel last Middle East tensions is the year and 10 more new pro- major reason why they have jects are under way. Among taken Israel off the back those that have expanded burner. Encouraged by the existing facilities are Miles Egypt-Israeli accord, many Laboratories, General Tele- firms now see see slow but phone & Electronics and steady progress in the fur- Motorola. ther easing of tensions, in- Israel's major selling cluding the Palestinian is- tools are a new tax treaty sue. with the U.S., its free trade In stark contrast to many agreement with the Com- other countries, Israel wel- mon Market, and a new comes foreign investment. round of investment incen- There are no limits on the tives. percentage of equity owner- While these are all strong ship that a foreign company can hold; there is no threat of the state's taking over foreign companies; and for- eign companies that can JERUSALEM (JTA) — in his address to the Jewish export all or most of their The United Jewish Appeal Agency Assembly to explain production can obtain very in the United States and the why he looked to the future generous incentives. United Israel Appeal in "quite optimistically." His Export prospects to the more than 60 other coun- hope, he said, was that the U.S. have been boosted by tries raised together some coming five years could two recent developments. $2 billion over the past five bring another doubling in years — more than double the funds for Israel raised the sum raised during the by these two principal fund- raising agencies. preceding five years. Dulzin pointed out that Jewish Agency Treasurer Leon Dulzin made this point the doubling of income over the past five years NEW YORK — Israel's during the period military industries have 1 occurred which constitutes the first made great progress since five years in the life of the they operated clandestinely reconstituted Jewish before the establishment of WITH THIS COUPON Agency. the state of Israel, turning WITH ANY MEXICAN Dulzin submitted to the out hand grenades and DINNER ($2.16 to $3.50) assembly an annual budget "Sten" guns. According to of $502 million for the pre- an advertising supplement sent years. It has already in "Aviation Week and been approved by the board Space Technology," Israel MEXICAN RESTAURANT of governors and is undergo- now manufacturers over 650 7114 W. 7 MILE ing final examination by the different items, weapons, 2 Blks. W. of Livernois assembly finance and weapon systems, munitions 863-0011 Closed Sun. during summer budget committee before and auxiliary equipment for And Mondays going to the assembly plen- ground, air, and navy forces. ary for final approval. Israel Aircraft Industries and Israel Military Indus- tries are among Israel's FAMOUS BIG TYME SANDWICHES largest manufacturers of r--"--- CHOOSE FROM military hardware. The IAI I 10 HAMBURGER GREATS designed and builds the Kfir (Young Lion) jet fighter SAME NOSTALGIC ATMOSPHERE! plane which can fly faster SAME GREAT MENU! than twice the speed of • CHARBURGERS • STEAK it EGGS sound. They also manufac- • DELICATESSEN ture the "Gabriel," which EGGS 8 OMELETS SERVED IN A SKILLET according to the supple- ment, is the free world's DELICIOUS PASTRIES GAIORE only combat proven sea-to- Dulzin Reports Doubling of UIA, UJA Contributions One is the U.S.-Israel tax treaty that was signed last November and awaits ratifi- cation. The treaty protects U.S. investors from double taxation, limits withholding taxes on profits to 12.5% and guarantees that grants given to U.S. investors by the Israeli government will not be considered income. For U.S. tax purposes U.S. investors also benefit from Israel's status as a less de- veloped country. Barring any moves by Washington to reduce for- eign tax credits this means that U.S. firms receive higher foreign tax credits for taxes paid to Israel than to a European government, for example. The other development is President Ford's executive order, announced in Janu- ary, that makes Israel Israel's Defense Industry Growing, Exports Weapons 1 OFF EL JARDIN 576-1588 4286 N. WOODWARD Between 13 & 14 Mile Thattau • SUNDAY BUFFET $4 95 Tues. thru Sat. • PRIME RIB DINNER $ 5 95 soup and salad bar included • FRESH WHITE FISH $4 95 soup and salad bar included 1686 JOHN R 689-1258 Just North of Maple Rd. (15 Mile) 0■ WocA-v e4,e0.,e ,e'eSN.,r.v