ICL Group, Tel Aviv, said it has reached an agreement with the Israeli Tax Authority (ITA) under which it will pay an amount of $105 million, plus indexation differences and interest. According to a Dec. 30 company statement, this will constitute “complete and final waiver” of all of the ITA’s claims regarding income tax obligations by the company and its material subsidiaries in Israel for the tax years 2015-2019.
ICL said the tax agreement is not expected to have material effect on the company’s financial statements.