Category: General Tax

08

Jun2017
Once upon a time in Never Land, a high tax country, Old Macdonald Inc. (OMI) hit upon a way of converting carrots into 24 carat pure gold at minimal cost. Unable to believe its good fortune, OMI licenses this knowhow to its subsidiary company OMI Offshore Ltd in Utopia, an ... Read More
June 8, 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
March 22, 2017Leon Harris

22

Mar2017
March 22, 2017Leon Harris

26

Feb2017
They say confession is good for the soul. It is also good for the Treasury. Israeli tax law now requires disclosure of reportable actions, reportable opinions and reportable positions to the Israeli Tax Authority. On December 26, 2016 the Israeli Tax Authority (ITA) published the first batch of reportable positions – ... Read More
February 26, 2017Leon Harris

29

Jan2017
 Israeli tax breaks for tech companies have just been clarified and extended, with effect from January 1, 2017, pursuant to Amendment 73 to the Law for the Encouragement of Capital Investments, 1959. It seems sure to further boost the Israeli economy. The amendment comes in the wake of the recent OECD ... Read More
January 29, 2017Leon Harris

28

Dec2016
The Knesset Finance Committee is working day and night debating, amending and approving tax measures in the latest budget bill. Below is an overview of what we know so far, according to announcements by the Knesset Finance Committee and the Israeli Tax Authority (ITA). They are not final, unless and ... Read More
December 28, 2016Leon Harris

28

Dec2016
Israel has just passed tax incentives for renewable energy and the OECD has pronounced on finance for energy saving investment. This follows the Paris Agreement of December 2015, in which 195 countries adopted an action plan to avoid dangerous climate change by limiting global warming to below 2°C. New Israeli Renewable Energy ... Read More
December 28, 2016Leon Harris

21

Dec2016
The Director of the Israeli Tax Authority (ITA), Mr Moshe Asher, presented his thoughts on Israeli tax administration on June 15. This was at the annual conference of the Israeli branch of STEP, the Society of Trust and Estate Practitioners. Following are some of the highlights. Action needed: The ITA Director pointed out ... Read More
December 21, 2016Leon Harris

21

Dec2016
Leon Harris and Shai Erez Last Sunday, March 27, the Israeli Supreme Court, sitting as the High Court of Justice (Bagatz) struck down the Israeli government's  "framework" (Mitveh) for exploiting gas in the Mediterranean and gave the government a year to sort it all out. The "framework" refers to a cabinet ... Read More
December 21, 2016Leon Harris