DHAKA: Israel said on Saturday it would transfer US$470 million of withheld tax revenues to the Palestinian government following talks between a senior Israeli military officer and Palestinian officials.

In December, Israel began withholding around US$130 million per month of taxes it collects on behalf of the Palestinians after the country announced it was joining the International Criminal Court (ICC).

Israel had condemned the Palestinian move to join the ICC, saying it was a unilateral step that undermined prospects for a negotiated peace settlement.

The move forced the Western-backed Palestinian Authority to cut most of its employees’ salaries by 40 percent and to resort to an emergency budget, reports The Straits Times.

BDST: 2022 HRS, APR 18, 2015
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