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 ...
September 30, 2015
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, ...
September 30, 2015
Leon Harris They say you should never ask a kitbag question, which is a question you may not like the answer to. It seems that is what happened when someone asked the Israeli tax Authority a question about a Lichtenstein Establishment and got an unfortunate tax ruling in response (6893/15, published February ...
May 19, 2015
Leon Harris Forms are important and should be respected. Sometimes legislation drives the forms, sometimes they drive the law by stretching its meaning. There is no shortage of Israeli tax forms. As it is the tax return season, we discuss below two forms which usually take far longer than expected to ...
You are invited to an informative evening on BUYING PROPERTY & INVESTING IN ISRAEL in association with the Jewish Agency For Israel Monday 18th May8-10pm. JW3 @ Ivy House LJCC 96 North End Road London NW11 7SX Presented By RAEL GOODMAN - Head of Jewish Agency For Israel ...
KYC Coming to Israeli Lawyers and Accountants Israeli lawyers and accountants will have to start applying "Know Your Customer" (KYC) procedures before accepting certain assignments, from September 2, 2015. This follows the passing of the Order For The Prohibition of Money Laundering (Duty of Identification and Recordkeeping by Business Service Providers to ...
April 1, 2015
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 and ...
March 9, 2015
Leon Harris On February 6, the OECD announced that multinational groups with a turnover above EUR 750 million must start Country by Country reporting in their countries of residence in 2016. This simple procedural requirement is sending shock waves round the international business community. Background The OECD is spearheading a concerted effort to ...
In this week’s Torah portion, Jethro, we read how Moses, set up an hierarchical court system in the desert, in order to best hear disputes and judge matters between people. It is doubtful however, that he needed to adjudicate on the VAT implications of supplying a Sefer Torah - a Jewish ...
November 9, 2014
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 ...