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High-Tech Flight Seen Defeated With Tax Breaks: Israel Markets

High-tech Israeli startups, fleeing the country to sell shares abroad at the fastest pace in six years, should be offered tax breaks and a reduction in bureaucracy to keep them home, a government panel said.

Companies valued at more than 200 million shekels ($57 million) will be offered the incentives as encouragement to raise money on the Tel Aviv stock exchange, according to a report submitted to the Israel Securities Authority last month. The recommendations are expected to be submitted for legislation “within a couple of months,” according to a co-chairman of the committee, Hani Shitrit Bach.