Category: General Tax

23

Sep2014
04/09/2014 01:44 inShare Malta rivals Cyprus in some ways, but fortunately its banking system is different.   A treaty for the avoidance of taxation between Malta and Israel became effective in Israel on January 1, pursuant to an order published by the Israeli finance minister on December 26. Malta is an EU member ... Read More

23

Sep2014
    04/23/2014 04:42   Each financial institution in Israel will be obliged to inquire about the identity of the holder of rights to accounts deposited with it.   In the classical rock song “Age of Aquarius” we are promised: “Harmony and understanding, Sympathy and trust abounding….” Recently the Israel Tax Authority ... Read More

23

Sep2014
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

23

Sep2014
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 ... Read More

23

Sep2014
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

23

Sep2014
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

23

Sep2014
  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

23

Sep2014
  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

23

Sep2014
  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

23

Sep2014
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 ... Read More

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