On 30 December 2019, the tax administration of Israel issued an updated list of reportable tax positions (RTP) for financial year (FY) 2016 to FY 2018. All RTPs will apply to Israeli taxpayers with respect to their income tax returns submitted for FY 2019.
An RTP disclosure is required if a taxpayer takes an income tax position that is contrary to a position previously published by the ITA; and the tax benefit to the taxpayer from its position exceeds NIS 5 million in the current tax year or NIS 10 million over 4 tax years.
Under Israeli legislation, a taxpayer that satisfies these conditions must submit Form 1346 when filing, or within 60 days after filing, its annual income tax return.
