Beny Steinmetz mulls leaving Israel to avoid tax

Sources inform ''Globes'' that Beny Steinmetz's dispute with the Israel Tax Authority has escalated, apparently in view of his attempts to leave the country to avoid registering Israel as his residence and paying Israeli taxes. He is reportedly considering moving to a European country, but he has not yet left, in part because of objections by his family.

Steinmetz has said that he wants to move to Switzerland. Meanwhile, the Tax Authority considers him an Israeli resident who owes Israeli taxes.

Steinmetz's fortune is estimated at $2.5 billion and he owns real estate, financial operations, and diamond and metal ore mines, mainly in Africa and Russia, through BSG Investments and affiliated companies. He is also a partner in the Pelagic deep water oil and gas exploration leases.

Steinmetz (56) was born to a family of diamond merchants in Netanya. His mother, Esther, was born in Switzerland and grew up in Belgium, and his father, Reuven, immigrated to Israel from Poland after World War II. Steinmetz's brother, Daniel, now runs the family business, while his sister resides in Belgium and has no part in the family business.

Beny Steinmetz is married with four children, and they live in one of Israel's most expensive homes in Arsuf, north of Tel Aviv.

Published by Globes [online], Israel business news - www.globes-online.com - on June 11, 2012