Category: General Tax

25

Jan2018
The Start-Up nation thrives on cash. Where can an Israeli business find financial assistance? Try government sources including the Israel Innovation Authority - formerly the Office of the Chief Scientist and Matimop. Here is a brief overview.   Competitive Research and Development:  This program offers Israel’s primary financial incentives for R&D activities from ... Read More
January 25, 2018Leon Harris

03

Jan2018
The Israeli Tax Authority (ITA) has just relaxed its procedure for enabling Israelis in less central locations in Israel to get tax breaks for doing so. The ITA announced on November 7, 2017, that it will now allow “privileged” municipal authorities to send their residents self-initiated but targeted confirmations of residency ... Read More
January 3, 2018Leon Harris

02

Jan2018
This year Israel introduced new rules for taxing personal “wallet companies” which pay company tax at a rate of 24% in 2017, but no more if profits are left in the company’s bank account. These rules tax deemed dividends, loans to major shareholders and personal services provided via such a ... Read More
January 2, 2018Leon Harris

19

Dec2017
The Israeli Tax Authority (ITA) announced a new voluntary disclosure program (VDP or amnesty) for applications filed by taxpayers between December 12, 2017 and the end of 2019. The new program replaces an earlier program that stopped accepting applications at the end of 2016. The ITA reports that 7,549 applications were ... Read More
December 19, 2017Leon Harris

13

Dec2017
OECD Deals Get Out of Jail Card On November 8, the OECD issued important guidance on how governments can catch tax evaders and, significantly, what rights taxpayers have. (“Fighting Tax Crime: The Ten Global Principles”). OECD guidance is back-door law in OECD member countries such as Israel. Article 6 of the OECD Convention, ... Read More
December 13, 2017Leon Harris

30

Nov2017
בשנת 2018 ישראל עומדת לתקן את כל 56 אמנות המס שלה בבת אחת וזאת עקב חתימתה בתאריך 7.6.2017 על אמנה רב צדדית של ארגון ה -  OECD על מנת ליישם הוראות הקשורות ל-   Base Erosion and Profit Shifting) BEPS). BEPS  הינה תכנית מקיפה של ארגון ה-OECD כנגד הזזת רווחים למקומות אופשור (offshore), ... Read More
November 30, 2017Leon Harris

26

Nov2017
Israelis in hitech and other industries are often relocated to work abroad. At what time do they become foreign residents? For many years this was a mystery. The Israeli tax law says that dropping Israeli fiscal residency takes at least four tax years – two years in Israel under 183 ... Read More
November 26, 2017Leon Harris

13

Nov2017
Israel has seen a wave of exit deals. Exits can be paid for with cash or shares of the acquirer, especially if the acquirer’s shares are publicly traded on a stock exchange – that is as good as cash isn’t it? Not if there is immediate tax to pay and ... Read More
November 13, 2017Leon Harris

25

Oct2017
Are Bitcoins and Other Virtual Currencies Tax-Exempt? In 1964, the Dave Clark Five pop group raised room temperatures with their foot stomping hit “Bits and Pieces”. In 2017, the rise in bitcoin prices is again raising room temperatures. To add to the euphoria, some think there is a big Israeli tax loophole. With ... Read More
October 25, 2017Leon Harris

24

Oct2017
Information Exchange Gathers Pace The first wave of automatic Common Reporting Standard (CRS) information exchanges has just begun between 49 countries. This is according to an OECD announcement on September 15. The 49 countries include Argentina, Barbados, Belgium, Bermuda, BVI, Cayman Islands, Cyprus, Czech Republic, Denmark, Estonia, France, Germany, Gibraltar, Greece, Guernsey, ... Read More
October 24, 2017Leon Harris