Israel to receive about $55 million in taxes from the $1.1 billion Waze deal

 

Since most of Waze’s stockholders are foreign residents they are not obligated to pay taxes in Israel.

WATCH: Ilan Gattegno breaks the deal down.

By Ilan Gattegno, Zeev Klein, Reuters & Israel Hayom Staff

 

The government is expected to receive only about 200 million shekels ($55 million) in taxes from the reported $1.3 billion acquisition deal signed between Google and the Waze traffic and navigation app. While the final amount of the tax payment will depend on the ultimate structure of the deal, most of the Israeli startup company’s stockholders are foreign residents who are notobligated to pay taxes in Israel.

WAZE - Photo: by IsraelandStuff/PP

WAZE – Photo: by IsraelandStuff/PP

On Monday, it was reported that the long courtship for Waze may finally be over, with Google as the victor.

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