The Israeli Tax Authority (ITA) announced on April 9, 2024, that all Israeli charities must issue digital receipts starting January 1, 2025. That’s if they want their donors to go on enjoying Israeli tax relief under Section 46 of the Income Tax Ordinance.
This follows hot on the heels of electronic ... Read More
Category: Israeli Exempt Companies
01
May2024
The OECD has announced rules to help distributors fix a standard profit margin for tax purposes in around 145 countries. If you import or export physical goods, you must consider this. The rules are complex, but our firm has developed special software for international distributors.
The OECD has published important ... Read More
May 1, 2024Leon Harris
01
May2024
The Israeli Tax Authority has developed a new procedure for the good guys to pay tax on their gains from bitcoins and other virtual currencies.
May 1, 2024Leon Harris
18
Apr2024
How do you buy or sell a company at a good price. What else matters?
April 18, 2024Leon Harris
08
Apr2024
Leon Harris and Yoad Frenkel
In a word, No. The Knesset has just passed an amendment which lessens but not removes the 10 year Israeli tax holiday for foreign income of new residents and senior returning residents who lived abroad for at least 10 years (“Olim”) (Income Tax Ordinance amendment 272, ... Read More
April 8, 2024Leon Harris
30
Mar2024
Can a business recover VAT on war security expenditure? In many countries that have VAT or similar taxes, a business can claim back VAT on business expenditure but not private expenditure.
So is war security expenditure business or private? The Israeli CPA Institute took this dilemma to the Israeli VAT Authorities ... Read More
March 30, 2024Leon Harris
30
Mar2024
The Israeli Tax Authority (ITA) has just published a notice about optimizing charity donations (“Credit for Donations of capital Assets In Kind” April 21, 2024).
Charitable giving or Tzedakah is an important part of the Jewish religion. Helping others in need is not only a good deed, it can be tax ... Read More
March 30, 2024Leon Harris
12
Mar2024
With a war to finance and covid 19 expenses still lingering, Israeli taxation is going only one way, which isn’t down. Please don’t shoot the messenger. Coming soon: higher VAT and perhaps an electric car travel tax.
Value Added Tax (VAT):
The standard rate of VAT in Israel will rise from 17% ... Read More
March 12, 2024Leon Harris
26
Feb2024
The Israeli government published a draft bill on February 22, 2024 proposing to repeal the ten year reporting exemption for Olim. This will relate to foreign income and assets of theirs and of trusts they are a party to. But this only relates to disclosure – the existing ten-year exemption ... Read More
February 26, 2024Leon Harris