Category: General Tax

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Sep2014
03/05/2014 00:47   The Israeli government’s warning comes hot on the heels of similar warnings from the US, Canada and the EU. Illustration of Bitcoin. Photo: REUTERS On February 19, the government published a joint warning regarding bitcoins and other virtual currencies. It was from the Israel Tax Authority, the Bank of Israel, the Capital ... Read More
September 23, 2014Leon Harris

23

Sep2014
03/12/2014 22:03 The transitional arrangement offers a useful facility for sorting out the past Israeli taxes of trusts with foreign settlors and related Israeli resident beneficiaries.   The Israel Tax Authority (ITA) on March 9 announced optional transitional arrangements for Israeli resident beneficiary trusts. This follows Amendment 197 of the ... Read More
September 23, 2014Leon Harris

23

Sep2014
04/01/2014 22:36   Hi-tech firms from Kiryat Shmona to Eilat may have to register and pay VAT and income tax in every country where they happen to have “significant” users.   On March 24, the OECD published draft proposals for tightening the taxation of multinational concerns that operate internationally in the digital economy. ... Read More
September 23, 2014Leon Harris

23

Sep2014
04/09/2014 01:44 inShare Malta rivals Cyprus in some ways, but fortunately its banking system is different.   A treaty for the avoidance of taxation between Malta and Israel became effective in Israel on January 1, pursuant to an order published by the Israeli finance minister on December 26. Malta is an EU member ... Read More
September 23, 2014Leon Harris

23

Sep2014
    04/23/2014 04:42   Each financial institution in Israel will be obliged to inquire about the identity of the holder of rights to accounts deposited with it.   In the classical rock song “Age of Aquarius” we are promised: “Harmony and understanding, Sympathy and trust abounding….” Recently the Israel Tax Authority circulated a draft bill ... Read More
September 23, 2014Leon Harris

23

Sep2014
04/28/2014 22:20 According to the OECD report, dealing with high poverty rates and low employment rates “needs to remain a policy priority.”   On April 25, the OECD published its report on “How to Improve Taxes and Transfers in Israel.” On the whole the report is balanced and appreciative of Israeli fiscal ... Read More
September 23, 2014Leon Harris

23

Sep2014
05/20/2014 23:22 inShare The bill proposing zero-rate VAT for first-time home buyers has rightly attracted much attention because people who served in the IDF would receive preferential treatment.   The bill proposing zero-rate VAT for first-time home buyers has rightly attracted much attention because people who served in the IDF would receive ... Read More
September 23, 2014Leon Harris

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Sep2014
05/06/2014 21:58 inShare Some multinational companies pay little or no tax anywhere by exploiting differences of approach in different countries regarding finance, taxation. Isreli currency. Photo: Reuters On March 19 the OECD published draft proposals for tightening the taxation relating to “hybrid mismatch arrangements” of multinational concerns. This has nothing to do with saving the ... Read More
September 23, 2014Leon Harris

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Sep2014
05/27/2014 22:51 inShare In Israel, the Supreme Court just chimed in by upholding yet again that a couple can be happily married but fiscally resident in different countries.   The song “Happy” by Pharrell Williams is a universal success, although the version “Happy in Tehran” ended in arrest last week for all ... Read More
September 23, 2014Leon Harris

23

Sep2014
  By KEVIN PACKMAN, LEON HARRIS 06/10/2014 21:49 US federal and state tax may then be creditable against any Israeli tax on US-source income and gains, pursuant to comprehensive rules of the US-Israel tax treaty. But US penalties cannot be credited in Israel.   Dollar bills. Photo: Steve Marcus / Reuters Firstly, for international businesses. We have often ... Read More
September 23, 2014Leon Harris