Below is a round-up of some interesting recent happenings on the tax scene. Seizing assets from employees: Can assets be seized from an employee who allegedly participates in a big tax fraud? If so, how much can be seized? The Israeli Supreme Court ruled on this issue recently (State of Israel vs. ...
March 19, 2023Leon Harris
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 ...
May 23, 2022Leon Harris
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 ...
January 26, 2022Leon Harris
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 ...
December 28, 2021Leon Harris
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 ...
December 9, 2021Leon Harris
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 ...
December 4, 2021Leon Harris
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 ...
July 7, 2021Leon Harris
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 ...
June 6, 2021Leon Harris
On May 31, 2020, the governments of Israel and the United Arab Emirates (UAE) signed an income tax treaty for the avoidance of double taxation and prevention of fiscal evasion. This follows on from the Abraham Accords including the “Treaty of Peace, Diplomatic Relations and Full Normalization between the UAE and ...
June 2, 2021Leon Harris
On May 21, 2021 a ceasefire ended the latest 11 day conflict between Israel and Hamas-ruled Gaza, known as Operation Guardian of the Walls. The loss of civilian lives was a tragedy for all sides. An IDF spokesman said on Israeli TV that the ceasefire may be considered a success ...
May 23, 2021Leon Harris