Nov. 11 Protest and March
November 11, 2012 16:23
Coverage of two protests held on Nov. 11. One was towhat has allegedly amounted to, NIS 27 billion in preferential tax exemptions for some of Israel's largest corporations.
The march was to protest a law that has allowed major corporations to avoid paying high tax rates by way of deferrals and reinvesting money (that otherwise would have been taxed) into creating jobs. For example, the Israeli newspaper "Haaretz" has written that Teva Pharmaceuticals, the largest generic drug manufacturer in the world, only pays an effective 4% tax rate- instead of the standard 24% rate. Allegations brought by other Israeli media sources claim that the money which has been exempted has not been used in accordance with the law and, instead, has been essentially laundered abroad before being brought back into the country as additional profits for executives and investors.
Labor Party Candidate Oren Pasternack leads protestors in a chant near the Azrieli Center.
Earlier in the evening, Pasternack calls on Yair Lapid to formally announce his position regarding joining a Likud-led government.
Leftist protestors, from various parties and factions, participate in a protest march against the polices of PM Netanyahu and the Likud.
Protestors walk in the shadown of the Azrieli Center, Tel Aviv, Israel
Posted November 11, 2012 16:23