ICL Group Ltd. has reached a final agreement with the Israeli Tax Authority (ITA) to resolve all income tax and natural resources law liabilities for its Israeli subsidiaries for the years 2020 through 2024. Under the terms of the settlement, ICL will pay approximately $225 million, plus linkage differences and interest. Of this amount, roughly $60 million relates to timing differences that will be credited against future tax payments. The company states it has already recorded sufficient provisions for these liabilities in its financial statements, meaning the agreement is not expected to have a material impact on its income statement. ICL Group Ltd. operates as a specialty chemicals manufacturer focused on plant nutrition, performance minerals, and integrated crop solutions.
