Category: International Tax Planning

14

Mar2018
The Israeli Tax Authority has just published a controversial tax ruling that imposes partial tax on a foreign investment fund. Background: Section 108 of the Israeli Income Tax Ordinance (ITO) empoweres the ITA to collect tax from an Israeli resident who represents a foreign resident. And the Israeli Tax Authority (ITA) claims ... Read More
March 14, 2018Leon Harris

21

Feb2018
The Israeli Tax Authority (ITA) has just published detailed instructions regarding the 2018 voluntary disclosure program (VDP or amnesty) which expand on the ITA’s initial announcement of December 12, 2017 (Operating Instructions 5/2018 of February 13, 2018).  The new instructions will create extra work for amnesty applicants and their advisors. Background: The 2018 ... Read More
February 21, 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

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

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

04

Oct2017
President Trump and the Republican party issued a tax reform “framework” plan on September 27. It’s only 9 pages long so we don’t yet have full details and it has yet to be enacted. Given that, what’s in store for US businesses, US Olim, and everyone else? Business Taxation The framework proposes ... Read More
October 4, 2017Leon Harris

27

Sep2017
The Israeli Tax Authority published final instructions regarding Reverse Vesting shares on June 5 (Circular 5.2017. This will be of interest to many people in the Start-Up Nation. Until now, founders and key personnel holding 10% or more of a company seemed to miss out on the opportunity to pay only 25% tax ... Read More
September 27, 2017Leon Harris

19

Jul2017
The world’s tax treaties have just undergone instant plastic surgery. Unfortunately, they aren’t as pretty as they used to be. One of the surgeons in attendance was the Israeli finance minister, Moshe Kahlon. It all happened on June 7 in Paris, when the OECD held a grand signing ceremony fora new ... Read More
July 19, 2017Leon Harris

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