Construction Industry

Negev Ceramics has returned to the Tel Aviv Stock Exchange through a bond issuance, raising 87 million shekels. This marks the company's first appearance on the public market in 14 years.

The Tel Aviv District Court ruled that the forfeiture of bank guarantees due to a contractor's collapse constitutes a reduction in the transaction price, entitling the company to a VAT refund. The judge rejected the Tax Authority's position, warning against double taxation, and ordered the state to pay 75,000 shekels in legal costs.