04/28/2014 22:20 According to the OECD report, dealing with high poverty rates and low employment rates “needs to remain a policy priority.”   On April 25, the OECD published its report on “How to Improve Taxes and Transfers in Israel.” On the whole the report is balanced and appreciative of Israeli fiscal ... Read More

05/20/2014 23:22 inShare The bill proposing zero-rate VAT for first-time home buyers has rightly attracted much attention because people who served in the IDF would receive preferential treatment.   The bill proposing zero-rate VAT for first-time home buyers has rightly attracted much attention because people who served in the IDF would receive ... Read More

05/06/2014 21:58 inShare Some multinational companies pay little or no tax anywhere by exploiting differences of approach in different countries regarding finance, taxation. Isreli currency. Photo: Reuters On March 19 the OECD published draft proposals for tightening the taxation relating to “hybrid mismatch arrangements” of multinational concerns. This has nothing to do with saving the ... Read More

05/27/2014 22:51 inShare In Israel, the Supreme Court just chimed in by upholding yet again that a couple can be happily married but fiscally resident in different countries.   The song “Happy” by Pharrell Williams is a universal success, although the version “Happy in Tehran” ended in arrest last week for all ... Read More

  By KEVIN PACKMAN, LEON HARRIS 06/10/2014 21:49 US federal and state tax may then be creditable against any Israeli tax on US-source income and gains, pursuant to comprehensive rules of the US-Israel tax treaty. But US penalties cannot be credited in Israel.   Dollar bills. Photo: Steve Marcus / Reuters Firstly, for international businesses. We have often ... Read More

  06/17/2014 23:33 inShare Going offshore means registering any intellectual property (IP) in an offshore company and delegating R&D and marketing to onshore companies.   Invest in a Gold-1 Photo: INVEST IN A GOLD Money doesn’t grow on trees, and taking your business international is no picnic. On June 12, the International Business Structuring Association ... Read More

  06/25/2014 09:37   With regard to business operations, a resident of one country (e.g., Panamanian company) may be taxed in the other country (e.g., Israel) if it has a “permanent establishment” (PE) in the other country.   An accountant [illustrative photo] Photo: Ivan Alvarado / Reuters Panama is famous for its canal, colorful history and ... Read More

07/01/2014 23:25 The Israeli taxation of trusts changed on January 1, 2014.   Sometimes fact is stranger than fiction. Sometimes fiction drives the facts. For example, on June 25 the Israel Tax Authority (ITA) announced it is extending the deadline for reporting Relatives Trusts from June 30 to two later dates (see ... Read More

07/15/2014 23:16   What are the fiscal and financial implications of the military operation for Israelis?   Operation Protective Edge was launched by the IDF on July 7 in response to rocket attacks. What are the fiscal and financial implications? Tax reporting extension The Israel Tax Authority (ITA) extended the monthly deadline for reporting and ... Read More