Google, Nvidia seek to pay Israeli taxes in dollars as shekel strengthens
Nvidia and Google have approached the Israel Tax Authority about the possibility of paying Israeli corporate taxes in dollars rather than shekels, as the shekel’s sharp appreciation creates new cost pressures for global technology companies operating in Israel.
The proposal would allow companies to reduce exposure to exchange-rate volatility while potentially limiting additional demand for shekels that could further strengthen the currency. Dollar-denominated tax receipts could also be used by the Ministry of Finance to service foreign-currency debt.
The issue is particularly significant for Nvidia, whose Israeli operations expanded following its acquisition of Mellanox and which has become one of Israel’s largest corporate taxpayers. The discussion also comes as Google’s Israeli footprint is expected to grow following its acquisition of Wiz.
Read more in Globes.
