The contractors wrote that if the VAT exemption is canceled, it will demand the return of money paid to the Ministry of Construction and Housing and the ILA for land and development.
A group of developers and contractors who have won Ministry of Construction and Housing and Israel Land Administration (ILA) tenders in Eilat has announced that it plans to halt registration procedures for construction of 372 housing units. The group is asking for clarifications regarding the plan to cancel free trade benefits and the VAT exemption in Eilat, and sent a letter last week to the prime minister, the minister of finance, the minister of construction and housing, and the mayor of Eilat.
The group wrote that if the VAT exemption is canceled, it will demand the return of money paid to the Ministry of Construction and Housing and the ILA for land and development. It will also demand refund of other coasts and expenses incurred for planning and financing.
Companies signing the letter included Peretz Bonei Hanegev, Luzon Peretz Construction and Development, Tolus Building and Investment, Yossi Avrahami Civil Engineering Works, Nofi Saaman & Sons, and Yahalomit Peretz Building & Development Works.
Published by Globes [online] - www.globes.co.il - on January 16, 2005