Category: General Business

08

Nov2022
Amazingly, the Israeli Tax Authority (ITA) has now clarified how to get round a negative Supreme Court judgement relating to trusts, in a Tax Ruling (3399/22 of August 9, 2022). The issue: Israeli real estate gains are taxed and administered completely differently from other capital gains. The income tax law says that contributing ... Read More
November 8, 2022Leon Harris

08

Nov2022
The present caretaker government has just published a bill which, if enacted, would further expand Israel’s range of tax breaks for Israeli hitech companies (Encouragement of High Tech Industry Bill (ad hoc measures) 2022, bill number 1577 of August 18, 2022).  We summarize the proposals below. Tax credits for angel investors: Old ... Read More
November 8, 2022Leon Harris

08

Nov2022
Working from home has pros and cons. Some people get more work done, others have a partner also working from home and kids who need attention. Some people take this a step further, working for their old firm in, say, the US or UK, while located in Israel. Perhaps they made ... Read More
November 8, 2022Leon Harris

23

May2022
Welcome to the latest Tax Telegraph covering major Israeli/international tax developments. In this edition: Doing Business in Israel - 2022 Taxpayer Beats Persecution by Tax Officials. Crypto Currencies and NFTs in Israel. Ukraine and Israel. UAE and Israel USA and Israel – Tricky Israeli Tax Rulings Israeli Stealth Tax on Digital ... Read More
May 23, 2022Leon Harris

26

Jan2022
Welcome to the latest Tax Telegraph covering major Israeli/international tax developments. In this edition: Israeli Real Estate Tax Proposals Worldwide Taxation System and Israel Israeli Reportable Tax Positions Please send your comments and questions to: [email protected]  *    *    *    *    * Israeli Real Estate Tax Proposals The Israeli Tax Authority (ITA) published on January 13 ... Read More
January 26, 2022Leon Harris

28

Dec2021
If you planned on celebrating the 2021 year-end, this item may add to any hangover or sober you up. It may also encourage going on a diet. In short, soft drinks just got harder. The Sweet Tooth Tax: The Israeli Finance Ministry, Customs & VAT Division, saw fit to publish on December ... Read More
December 28, 2021Leon Harris

09

Dec2021
  The Israeli Tax Authority has published a report proposing to reform international taxation rules (https://www.gov.il/he/departments/news/sa211121-1). Unfortunately, many of the proposals will involve bureaucratic form-filling, looking for tax planning. Moreover, the proposals miss the big money by ignoring the OECD’s recent (2020/21) twin pillar tax package aimed at larger multinationals. The Israeli Tax Authority ... Read More
December 9, 2021Leon Harris

04

Dec2021
Covid-19 hasn’t gone away and many families are enjoying their own company quarantined in their home in isolation. Sometimes this stops people working. The Israeli government has now issued new rules for paying confinement compensation via the National Insurance Institute (NII). Below is a summary based on our understanding. Self-Employed Quarantine ... Read More
December 4, 2021Leon Harris

07

Jul2021
On July 1, 2021, the OECD and G20 announced that 130 countries, led by the USA, have joined the Two Pillar tax reform package to “ensure that multinational enterprises pay a fair share of tax wherever they operate.” The OECD hopes to reallocate a quarter of a trillion dollars of taxable ... Read More
July 7, 2021Leon Harris

06

Jun2021
The G7 finance ministers have just reached a “historic agreement” on how to reform global taxation. The G7 comprises the United Kingdom, Canada, France, Germany, Italy, Japan, the United States. The problem: The problem is that business done on the internet cloud currently escapes tax legally if the supply company is resident ... Read More
June 6, 2021Leon Harris