27/1/2013 The following is the Dirty Dozen tax scams from the IRS for 2012. The US Internal Revenue Service (IRS) has just issued its annual ‘Dirty Dozen’ ranking of tax scams. Taxpayers should be careful and avoid falling into a…

27/1/2013 Question of what is right tax to pay is subjective matter. 0 would be nice, but would not finance running the country. Passover is over. Bread consumption is back to normal. Here’s a roundup of Passover-related things. Monthly reporting…

27/1/2013 It seems this VAT should have been collected as far back as 1975 when the VAT Law was first enacted. Every man, woman, child and pet on this side of the Atlantic knows that Spain beat Italy 4-0 to…

27/1/2013 The main effect of the higher VAT will be felt by  end consumers,  which means private individuals, charities, financial institutions and companies that are not in business. The standard rate of value-added tax (VAT) in Israel is expected to…

27/1/2013 The failure to file an FBAR can result in penalties of up to 50 percent of the highest balance of the account per year, which could mean the loss of the entire account (and more), in addition to potential…

27/1/2013 Your Taxes: The Israel Tax Authority (ITA) is playing a role in Gaza mission by paying financial compensation and allowing more time to report, pay taxes. PHOTO: REUTERS The Israel Tax Authority (ITA) is playing a role in Operation…

* Regular company tax rate: 25% * Regular dividend tax rate: 30%-32% for 10%-or-more shareholders, 25%-27% for other shareholders * Personal income tax rates: 10% – 50% * Personal national insurance (social security) tax rates – up to 16.23% on…

A TOV is a trust that owns an ‘‘underlying company‘‘, which in turn does business and/or holds investments around the world. A TOV may enjoy a complete exemption from Israeli tax on: 1. Non-Israeli source income and gains: if the…

* GDP annual growth (to 3rd quarter 2012): 3.3% * GDP annual growth forecast 2013 (The Economist): 3.0% * Inflation latest (December): 1.6% * Unemployment (Q2 2012): 7.0% *Current Account Balance (Q3 012): -$1.3bn *Budget Deficit 2012: -4.0% of GDP…