Israel May Ease Tax Burden To Lure Walmart, Other Retailers

A senior aide to Israeli Prime Minister Benjamin Netanyahu disclosed that Israel is leaning toward loosening the tax structure that makes foreign investment more difficult. Netanyahu economic adviser Avi Simhon said “some drastic changes” – including tax cuts – are needed to lure foreign retailers like Walmart to Israel to help lower the cost of living. Netanyahu spoke with John Furner, a senior Walmart executive, at the recent World Economic Forum meeting in Davos, Switzerland. According to Simhon, the two discussed the idea of Walmart’s opening a retail branch and investing in Israeli technologies after the country eased some regulatory burdens. “The door to Netanyahu’s office is open,” Simhon said. Walmart did not comment on the discussions. [Image Credit: ©   Benjamin Netanyahu via Twitter ]