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…