إرشادات مقترحات البحث معلومات خط الزمن الفهارس الخرائط الصور الوثائق الأقسام

مقاتل من الصحراء

       




ISRAEL-PLO PROTOCOL ON
ECONOMIC RELATIONS

SUMMARY OF MAIN POINTS

( Communicated by Finance Ministry Spokesman )
May 1, 1994


IMPORT POLICY

Israel and the Palestinian Authority will have an import policy basically similar in all respects regarding imports and customs. Nonetheless, the Palestinian Authority will be able to import mutually agreed goods at customs rates differing from those prevailing in Israel following jointly agreed import procedures. Moreover, it will be able to import goods from Arab countries, in agreed, limited quantities. Arrangements will be made for the two customs authorities to jointly operate the border crossing in Jericho and Gaza.

MONETARY POLICY

The Palestinian Authority will establish a monetary authority, whose main functions will be the regulating and supervision of the banks operating in the area, the determination within certain limits of the liquidity raitos on deposits, the management of foreign exchange reserves and the supervision of foreign exchange transactions.

The two sides will continue to discuss the possibility of issuing various alternatives of aPalestinian currency. To encourage trade, they will mutually allow the opening of bank branches. Until then, the NIS will continue to constitute a legal means of payment in the autonomy's areas side by side with other currencies.

DIRECT TAXATION

The Palestinian Tax Administration will conduct its own direct tax policy, including income tax on individuals and corporations, property taxes and municipal rates and fees, according to the policy and the rates determined by the Palestinian Authority.

The two parties will collect income taxes on economic activities conducted in their respective areas. Israel will transfer to the Palestinian Authority 75 percent of the revenues from their income tax collected from Palestinians employed in Israel.

INDIRECT TAXATION

A VAT system similar to that operating in Israel will be operated also by the Palestinian Authority.

The VAT rates of the Palestinian Authority will be between 15 and 16 percent.

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