Category: Israeli Personal Tax Planning

15

Oct2023
Below is a round-up of business and other announcements relating to the Swords of Iron war. Tax reporting:   The deadline for reporting and tax payment for the purposes of VAT, withholding taxes and tax advance payments for September 2023 has been extended (by only a few days) to October 26, but ... Read More
October 15, 2023Leon Harris

10

Oct2023
Last Saturday October 8, 2023, Southern Israel and the world witnessed appalling acts of acts of wanton savagery unprecedented since the Holocaust – thousands of dead, injured and abducted civilians. Our hearts go out to the affected people, their families and their friends. And we salute the IDF including the ... Read More
October 10, 2023Leon Harris

01

Oct2023
The Israeli government published a bill on September 6, 2023, which aims to tighten up Israeli rules for taxing offshore controlled foreign companies (CFCs) and foreign professional companies (FPCs). The Israeli proposals have echoes of US GILTI (global intangible low-taxed income) rules in the US. Israeli CFC rules aim to tax ... Read More
October 1, 2023Leon Harris

01

Oct2023
The Israeli government wants to take a different bite out your apples (and income) abroad – but not for new Olim. The government published on September 6 two draft bills to reform international tax rules in Israel – one concerning foreign tax credits, the other concerning controlled foreign companies (CFCs) and ... Read More
October 1, 2023Leon Harris

01

Oct2023
The OECD has quietly issued a far-reaching Public Consultation Document on streamlining the taxation of intercompany “baseline marketing and distribution activities” within multinational groups. Because there is apparently no size limit, these proposals, if adopted, could shake up Israeli and international routine trade and tax across the 143 countries signed up ... Read More
October 1, 2023Leon Harris

24

Aug2023
The Israeli Tax Authority (ITA) has issued Circular 1/23 on August 17, 2023 (back-dated to February 12, 2023) on the process for requesting bilateral agreement between the ITA and the tax authority of another country under a tax treaty. Israel has income tax treaties with 61 countries including the US, ... Read More
August 24, 2023Leon Harris

24

Aug2023
The District Court has rejected a class action against the Israeli Tax Authority (ITA) that allegedly made Israeli banks withhold excess tax at source from dividends from abroad (Yaacov Hostatzky  vs. ITA, 20739-06-21, handed down May 14, 2023 by Judge Y. Saroussi). Main Facts: The case concerned an Israeli resident private individual ... Read More
August 24, 2023Leon Harris

24

Aug2023

About Exits

Hitech founders often dream of an exit (M&A deal). How does a tech company exit (M&A deal) at a good price? A corporate auction may sometimes improve the starting price, but how does a seller company get to the best starting price in the first place? And what are potential buyers ... Read More
August 24, 2023Leon Harris

24

Aug2023
An Israeli court has ruled that if a foreign group buys the shares of an Israeli tech start-up, strips out the IP (intellectual property) and terminates the Israeli company, the company must pay tax on the IP stripped out (Medtronic Vs. Kfar Saba Assessing Officer, District Court Civil Appeal 31671-09-18, ... Read More
August 24, 2023Leon Harris

24

Aug2023
The budget law has now passed the Knesset. It contains various measures relating to e-invoice numbers, small businesses, rental income taxed at 10% and much more. Below is a review of some income tax and VAT measures (Economic Efficiency Law (Legislative Amendments To Achieve Budgetary Goals for Budget Years 2023-2024), ... Read More
August 24, 2023Leon Harris