חוק אמנת הבנק האסייני לפיתוח, התשפ"ד-2023

Government bill · Published 24 Oct 2023

1Tabled
2Reading 125 Jul 2023
3Committee
4Readings 2-323 Oct 2023
5Published24 Oct 2023

How it affects you

The Asian Development Bank will have legal status and immunity in Israel, while the bank itself will be exempt from taxes and customs duties. Tax exemption on representatives’ salaries will apply only to non-Israeli citizens.

Who gains

Asian Development Bank Receives legal personality in Israel Section 2
Foreign bank representatives Receive tax exemption in Israel under the bank’s charter Section 4(ב)
Finance minister May issue regulations with Finance Committee approval Section 6

Who pays

State treasury Does not collect tax from foreign bank representatives under the charter Section 4(ב)
Finance minister Must report annually on the bank’s activity and investments Section 5