The Israeli tax Authority (ITA) and Swiss Finance Ministry signed on November 27 a declaration of intent regarding the exchange of information about financial accounts. The aim is to enhance cooperation regarding the supply of information, “egalitarian enforcement” of taxation in Israel, truthful tax payment and limit black ... Read More
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.
First, which proposals were NOT passed? A ... Read More
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
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
n April 2, the Israeli Tax Authority (ITA) published an aggressive draft Circular aimed at foreign online service companies.
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 principle is ... Read More
The Israeli Tax Authority (ITA) has just announced that it is working on a draft bill to improve the Israeli tax regime for Real Estate Investment Trusts (REITS).
A REIT is a publicly traded entity that enables the public to collectively participate in various types of investments linked to real estate ... Read More