Teva Pharmaceutical TEVA announced today that it
has reached an agreement with the Israel Tax Authority to pay NIS 2.540
billion (approximately $718M, according to rate of exchange on November
10, 2013) for the release of trapped profits, settling tax assessments
for the years 2005-2007, and applying similar principles through 2011.
In total, Teva will pay approximately NIS 2 billion ($565M) within the
framework of amendment 69 to the Law for the Encouragement of Capital
Investments (the "Trapped Profits Law”). This includes the payment of
NIS 336M ($95M) made in May 2013.
In addition, Teva will pay approximately NIS 840M ($237M) concerning tax
assessments for the years 2005-2011.
See full press release
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