Leon Harris
As part of the Israeli budget law for 2017 and 2018, the tax on dividends paid by companies to material shareholders was reduced to 25% in certain circumstances. But the deadline for doing so is October 1, 2017
The dividend tax change accompanies other new rules against to “wallet companies”, also ... Read More
Category: Israeli Exempt Companies
11
Sep2017
Leon Harris
The Israeli Tax Authority (ITA) reports that it sent its ace team of bookkeeping examiners to Ben Gurion airport in the early hours of July 25 to check out the taxi drivers, and made a startling discovery. Not one of the drivers checked accurately recorded their income!
The ITA team ... Read More
September 11, 2017Leon Harris
19
Jul2017
The recent G20 summit in Hamburg last weekend wasn’t only about North Korea and Syria. The G20 also reaffirmed their commitment to create a globally fair modern international tax system.
A report by the OECD to the G20 leaders before the summit sheds light on which companies with international operations are more ... Read More
July 19, 2017Leon Harris
19
Jul2017
The Israeli Tax Authority (ITA) published on May 22 a backdated Circular on the implementation of Israel’s FATCA Agreement with the United States of America (Circular 3/2017 dated February 12, 2017).
What is FATCA all about?
Briefly, the US Congress enacted the Foreign Account Tax Compliance Act (FATCA) in 2010 requiring non-US account information ... Read More
July 19, 2017Leon Harris
19
Jul2017
If you buy the shares of an Israeli hitech company and think you are buying the technology too, think again. The Israeli merger and acquisition (M&A) scene just took a turn for the worse.
An Israeli Court has ruled that double Israeli tax applies if a purchaser buys all the shares ... Read More
July 19, 2017Leon Harris
06
Apr2017
In most countries, taxpayers know when is their deadline for filing tax returns. Not in Israel.
Monthly Reporting Deadlines:
Accountancy circles have recently been buzzing with excitement and trepidation. Most businesses are required to file monthly/bimonthly tax and VAT returns by the 15th day after the end of each month or bimonthly ... Read More
April 6, 2017Leon Harris
22
Mar2017
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March 22, 2017Leon Harris
22
Mar2017
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March 22, 2017Leon Harris
14
Dec2016
The Israeli tax Authority (ITA) and Swiss Finance Ministry signed on November 27 a declaration of intent regarding the exchange of information about financial accounts. The aim is to enhance cooperation regarding the supply of information, “egalitarian enforcement” of taxation in Israel, truthful tax payment and limit black money.
This is ... Read More
December 14, 2016Leon Harris
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
November 23, 2015Leon Harris