Category: Israeli Corporate Tax Planning

23

Nov2015
Last Thursday November 19, the Knesset finally passed the budget for 2015-2016 after reportedly addressing thousands of objections. Two laws were passed – Amendment 207 to the Income tax Ordinance, and a so-called Economic Efficiency Law. We review some of the tax measures.   Not Enacted: First, which proposals were NOT passed?  A ... Read More

30

Sep2015
Leon Harris How many homes can an investor own and still qualify for lower tax rates for passive income in Israel? Until recently, it was generally assumed that rental income from a handful of homes – say 5 or 6 -  may be considered passive, but any more may result in the ... Read More

30

Sep2015
On July 22, the Israeli government published a Bill entitled "Proposed Law to Reduce the Use of Cash" in an effort to tackle the black economy. Some of the proposals are far-reaching as summarized below. What is Proposed? According to the Bill, "cash" means Israeli banknotes and coins, and foreign currency. According ... Read More

30

Sep2015
Leon Harris The Israeli Tax Authority (ITA) is sending out notices to growing businesses requiring them to report online all their purchases and sales for Israeli VAT purposes. This is known as detailed VAT reporting. The aim is to enable the VAT Authority to match up most of the purchases in ... Read More

30

Sep2015
Leon Harris Filling in tax returns is never a pleasure, but when it comes to annual deadlines, Israel is relatively civilized. There is no mad rush to file by April 15, unlike the situation in the United States, for example. On May 15, 2015, the Israeli Tax Authority (ITA) announced extended ... Read More

30

Sep2015
Leon Harris Forms are important and should be respected. Sometimes legislation drives the forms, sometimes they drive the law by stretching its meaning. There is no shortage of Israeli tax forms. As it is the tax return season, we discuss below two forms which usually take far longer than expected to ... Read More

30

Sep2015
Leon Harris Israeli lawyers and accountants will have to start applying "Know Your Customer" (KYC) procedures before accepting certain assignments, from September 2, 2015. This follows the passing of the Order For The Prohibition of Money Laundering (Duty of Identification and Recordkeeping by Business Service Providers to Prevent Money Laundering and the ... Read More

30

Sep2015
Leon Harris On April 2, the Israeli Tax Authority (ITA) published an aggressive draft Circular aimed at foreign online service companies. Main Issue: In the draft Circular, the ITA seeks to extend its jurisdiction and to start taxing foreign online service companies if their activities have an Israeli link. Currently, the generally accepted ... Read More

30

Sep2015
Leon Harris     Introduction: In July 2013, the Knesset legislated major changes to the Israeli tax regime (Income Tax Ordinance Amendment 197).   Nearly two years later, the Israeli Tax Authority (ITA) issued a Circular which clarifies certain aspects of the Amendment (Supplement 1 to Circular 1/2010, dated March 10, 2015).   Amendment 197: Amendment 197 seeks to ... Read More

30

Sep2015
Leon Harris The Israeli Tax Authority has just issued a much needed "green channel" procedure for handling and approving share options in private companies. Share option plans are very popular in the Start-Up nation in the tech sector and many other sectors. The idea is that part of an employee's compensation package ... Read More

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