Category: General Tax

11

Dec2016
The Israeli Tax Authority has just issued a tough tax ruling dealing with taxing a foreign company on profits from clients in Israel (6631/16). The Facts of the Ruling: According to the Ruling, Company X is a company resident in a country that has no tax treaty with Israel (perhaps offshore). It ... Read More

23

Nov2015
Last Thursday November 19, the Knesset finally passed the budget for 2015-2016 after reportedly addressing thousands of objections. Two laws were passed – Amendment 207 to the Income tax Ordinance, and a so-called Economic Efficiency Law. We review some of the tax measures.   Not Enacted: First, which proposals were NOT passed?  A ... Read More

30

Sep2015
Leon Harris Lisa Minelli told that money makes the world go round, but she didn't say how. . People go into business to make money. One method to help them do so is the accelerator (or incubator). What is an accelerator? An accelerator is a facility in which financial and business experts provide advice, ... Read More

30

Sep2015

Draft Transparency Law

September 30, 2015
Leon Harris The Israeli Tax Authority (ITA) has just circulated a draft amendment to the Income tax Ordinance and the Prohibition on Money Laundering Law regarding Israel joining international tax information sharing agreements. Background: This amendment is needed to enable the Israeli government to ratify Israel's FATCA agreement with the US signed on ... Read More

30

Sep2015
Leon Harris Recent reports suggest the next government might consider legislating an estate tax, perhaps at the rate of 25% on estates over NIS 10 million. Few details are known, but what if it does happen? At present there are more questions than answers. Below we attempt to review the questions ... Read More

17

Feb2015
The OECD is at the forefront of an international campaign to try and collect more taxes from multinational groups. These groups are perceived by some governments as being over-successful in shifting profits to sunny offshore locations. Many billions of tax dollars and euros are thought to ... Read More

09

Nov2014
Your Taxes: Israel to implement tax treaty with Panama 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 ... Read More

23

Sep2014
03/05/2014 00:47   The Israeli government’s warning comes hot on the heels of similar warnings from the US, Canada and the EU. Illustration of Bitcoin. Photo: REUTERS On February 19, the government published a joint warning regarding bitcoins and other virtual currencies. It was from the Israel Tax Authority, the Bank of Israel, the Capital ... Read More

23

Sep2014
03/12/2014 22:03 The transitional arrangement offers a useful facility for sorting out the past Israeli taxes of trusts with foreign settlors and related Israeli resident beneficiaries.   The Israel Tax Authority (ITA) on March 9 announced optional transitional arrangements for Israeli resident beneficiary trusts. This follows Amendment 197 of the ... Read More

23

Sep2014
04/01/2014 22:36   Hi-tech firms from Kiryat Shmona to Eilat may have to register and pay VAT and income tax in every country where they happen to have “significant” users.   On March 24, the OECD published draft proposals for tightening the taxation of multinational concerns that operate internationally in the digital economy. ... Read More

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