Category: Israeli Personal Tax Planning

15

Jun2020
June 15, 2020 Bribery and kickbacks are illegal in many countries, including the US, UK and Israel. But anyone with investments in Switzerland may not know they were affected and may even be due a fee refund, which can be substantial.   This refers to hidden “retrocession fees” or “portfolio maintenance commission” which ... Read More
June 15, 2020Leon Harris

15

Jun2020
June 15, 2020 The Israeli government published a draft bill on June 1 proposing to pay job grants to employers who take on new employees or take back employees who were furloughed (Halat). How much is proposed? Monthly grants would be available for the period June to September, 2020. For each additional employee in ... Read More
June 15, 2020Leon Harris

15

Jun2020
 EU and UK Dealings May Be Reportable  June 15, 2020 Tough new rules will require many innocent cross border arrangements involving the EU to be reported to tax authorities in the EU and UK, commencing July 1, 2020. This is under Council Directive 2018/822/EU, commonly known as DAC 6.  Israel, the ... Read More
June 15, 2020Leon Harris

07

May2020
The Israeli Tax Authority opened their website on May 6, 2020, for the second round of grants for freelancers, and has promised to do so for company owners on May 18 (everyone wishes it were sooner). Here is the link to make a grant application: https://www.gov.il/he/service/grant-self-employed-persons-for-corona-period-2 You will need to first have ... Read More
May 7, 2020Leon Harris

18

Mar2020
UPDATE APRIL 27, 2020 Last Friday (April 24) the Israeli government announced another series of economic measures to help with the coronavirus economic crisis, which are summarized herein. They include long awaited grants for company owners, among others, but with some stings in the tail. Retail shops: Most retail shops and hairdressers are ... Read More
March 18, 2020Leon Harris

18

Mar2020
The OECD and G20 issued a statement on January 30, 2020, agreeing outline for further negotiations and work on reforming the international tax rules for many larger multinational groups. This raises several issues. What are the likely new rules for multinationals? What will governments do with resulting tax revenue increases ... Read More
March 18, 2020Leon Harris

18

Mar2020

Is ESOP a Fable?

Israeli hitech employees are highly motivated people who regularly work wonders of a technological nature. Part of that motivation comes from employee share option plans (ESOPS) which may provide a tax break if things go well in the tech company concerned But on the tax side, there have been developments that ... Read More
March 18, 2020Leon Harris

18

Mar2020
The Tzfat Magistrates Court has just ruled that a lien (bank freeze) slapped on an unsuspecting taxpayer by the Israeli Tax Authority (ITA) was against the law and defamatory. The ITA was given 30 days to pay damages and costs!! (Case 2692-08-18 issued February 16, 2020). This case will be of ... Read More
March 18, 2020Leon Harris

30

Jan2020
The Israeli Tax Authority (ITA) has found a controversial back-door way of retroactively reducing the ten year Israeli tax exemption for foreign income of Olim, in the tenth year. They did so by issuing new “reportable tax positions” on December 30, 2019 regarding 2019 onwards. Does the Israeli Tax Authority ... Read More
January 30, 2020Leon Harris

30

Jan2020
The Israeli Tax Authority (ITA) has issued a new generic Ruling allowing a streamlined procedure for B2B (business to business) e-commerce supplies by foreign businesses to Israeli businesses (Ruling 6369/18). The tax or lack thereof on e-commerce is a hot topic. On June 21 this year, the US Supreme Court ruled in the ... Read More
January 30, 2020Leon Harris