On 12 October 2020, the Israeli Tax Authority (ITA) published a draft bill for public consultation, proposing to amend Section 85A of the Income Tax Ordinance (ITO) and its regulations.
The proposal incorporates the principles of the OECD’s BEPS Action 13, that introduced requirements for a Local File, Master File, and a Country-by-Country (CbC) report if their consolidated turnover exceeds ILS 3 billion (approximately EUR 750 million).
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