Broadcom’s Israeli subsidiary faces $70 million tax demand over IP sale | CTech

The Israeli Tax Authority is demanding an additional tax payment of approximately a quarter of a billion shekels from the technology company CA Israel, including interest and linkage, alleging that the company significantly underreported the value of a cybersecurity business it sold nearly 15 years ago. According to the Authority, CA Israel reduced the reported value of the startup activity by a factor of five, reporting it at approximately 111 million shekels (approximately $31.5M) instead…