Oil & Gas L.P. Taxation
Under Israeli tax law a partnership is a pass through entity. The taxation is imposed on the partners and not on the partnership whose profits, loses and expenditures are allocated to the partners. There are special tax regulations that provide certain tax benefits to partnerships involved in oil and gas explorations in order to provide an incentive to investors in such partnerships.
Our firm represents most of the oil and gas partnerships traded on the Tel Aviv Stock Exchange. We provide these partnerships with on going tax advice on their taxation, including legal opinion on the tax aspects when the partnership raises funds on the stock exchange and a pre ruling from the Israeli Taxation Authority as to the tax consequences of the partnership which is a condition for going public and later when the partnership wishes to raise additional funds.
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