On 31 December 2008, the Israeli Tax Ordinance 5721-1961 (ITO) was amended though Amendment 169 (the Amendment). The amendment, which is only effective for the interim period of 2009, was adopted by the government as a part of a broad plan for financial aid, to help the economy recover, and to encourage foreign investment and repatriation of funds into Israel. The main changes are as follows:
| - | A reduction of the tax rate on … |