The Israeli government published a draft bill on February 22, 2024 proposing to repeal the ten year reporting exemption for Olim. This will relate to foreign income and assets of theirs and of trusts they are a party to. But…

Israel is moving onto a mandatory system of e-invoicing, known as “Israeli Invoices”, on April 1. This will be no joke for quite a few Israeli businesses. The date was pushed back 3 months due to the war. In a…

The war continues, the Israeli economy continues to struggle. Some IDF reservists have returned home. New reservists are being called up and conscription may be extended. It is estimated there are around 120,000 evacuees from the South and the North.…

One of the many repercussions of the Israel-Hamas war concerns double national insurance (=social security) also known as Bituach Leumi in Hebrew. Imagine an Israeli who relocated “permanently” to the USA (or many other countries – see below) with his…

The District Court has ruled that large interest free loans from a US parent corporation to an Israeli subsidiary company are not okay (eBay Israel Holdings Ltd Vs. Netanya Assessing Officer, civil appeal 51066-03-20, of December 5, 2023). But the…

The Israeli government has introduced a program of grants for Israelis who choose to start working in agriculture or construction in Israel (https://www.btl.gov.il/HaravotBarzel1/Pages/MankTimrozHB.aspx) . Background. Not only Jews suffered on the October 7. Tragically, some foreign workers from Thailand and…

The Israel-Hamas war continues. Below is a round-up summarizing recent announcements from the Israeli Tax Authority (ITA), the National Insurance Institute (Bituach Leumi), the CPA Institute and others: Compensation delays: One of the complaints against the Israeli government system of…

The Israeli tax year ends on December 31. The Israel-Hamas war only adds to the checklist of things to plan at year-end and indeed at other times. The Big Picture: The Israel-Hamas war is adding to the government’s budgetary needs.…

The Israeli government is gradually getting its act together in providing financial support for people and businesses. Below is a brief update as of November 7, not complete as the measures are still evolving. Evacuees: Relocation grants are to be…

Below is a round-up of business and other announcements relating to the Swords of Iron war. Tax reporting:   The deadline for reporting and tax payment for the purposes of VAT, withholding taxes and tax advance payments for September 2023…