Argentina: Social Security Agreement signs with Israel
The Officials of Argentina and Israel were signed a Social Security Agreement on September 12, 2017. This treaty will enter into force and will apply from the first day of the third month following the exchange of the ratification
See MoreIsrael: Social Security Agreement with Russia enters into force
The Social Security Agreement between Israel and Russia will enter into force on October 1, 2017. This will be applicable from its entry into force date. It was signed on June 7,
See MoreIsrael: Postponement of the reporting date and detailed VAT payment report
According to Section 67 (b1) of the VAT Law, the date of reporting and detailed VAT payment report for August 2017 has been postponed until September 27, 2017. It should be explained that this postponement applies only to dealers who submit a
See MoreIsrael: New transaction turnover amount for 2018
The Tax Authority of Israel released amended Value Added Tax (VAT) Circular 3/2017 on September 4, 2017. Under section 67 (a2) (1) of the VAT Law, the amount of the transactions turnover was updated. The VAT return threshold amount sets at NIS
See MoreIsrael: District Court makes a decision on Israeli transfer pricing rules
A decision was made and governed by an Israeli District Court that when an Israeli company gained IP ownership and shortly thereafter its employees and other assets (with IP) to a related party, the transfer should be counted as a sale for whole
See MoreArmenia: DTA with Israel signed
On 25 July 2017, the Minister of Foreign Affairs of Armenia and the Minister of Regional Cooperation of Israel have signed a Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to
See MoreAustria: DTA with Israel approved
The Austrian National Council on 29 June 2017, approved the Double Taxation Agreement (DTA) with Israel for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Once in force and effective, the
See MoreIsrael: Status updates of automatic exchange of country-by-country (CbC) reports
The Israel Tax Authority declared the signing of a multilateral agreement for the automatic exchange of country-by-country (CbC) reports and of common reporting standard (CRS) information. The Director of tax authority signed the Multilateral
See MoreIsrael: BEPS updates
The Ministry of Finance on 1st of May 2017, signed tax regulations for implementing the OECD’s nexus approach. This approach is mainly a BEPS requirement in case of intellectual property (IP) preferential tax regimes. The proposed regulations are
See MoreIsrael: Tax incentives on capital investment in hi-tech industry introduced
An amendment to the Law for the Encouragement of Capital Investments has been published by Israel on 29th December 2016, which was part of the changes made in the framework of the 2017-2018 Law on Economic Arrangements. Corporate income tax (CIT)
See MoreIsrael: Transfer pricing amendments has been proposed
The Parliament approved the bill regarding country-by-country (CbC) reporting on 1st February 2017. It must be published in the collection of laws for becoming law. This bill will become effective as from 1st March 2017. It was submitted to the
See MoreBelgium ratifies Social Security Agreement with Israel
On 23 December 2016, Belgium ratified the Social Security Agreement with Israel, as published in the Belgian Official Gazette of 2 February 2017. Once in force and effective, the new agreement will replace the existing agreement of
See MoreDTA between Canada and Israel entered into force
The Income Tax Treaty (2016) between Canada and Israel has been entered into force on 21st December 2016 for avoiding double taxation and it generally applies from 1st January 2017 for withholding and other taxes. But, the provisions of article 23
See MoreDTA between Austria and Israel signed
A new Tax Treaty between Austria and Israel has been signed on 28th November 2016. Once in force and effective, the new treaty will replace the existing Austria - Israel Income and Capital Tax Treaty
See MoreIsrael: Draft Budget Plan 2017/2018 presented
The draft budget plan for the year 2017/2018 has been presented on 31st October 2016 by the Finance Ministry. The Draft offers a decrease in the corporate income tax rate from 25% to 24% in 2017 and 23% in
See MoreIsrael: CbC reporting, transfer pricing documentation in budget plan
The Ministry of Finance’s budget plan for 2017-2018 has been approved by the Israeli government on 12th August 2016 that includes tax legislative measures. This budget plan covers: CbC reporting requirement: General rule: The Israeli budget plan
See MoreIsrael: Tax provisions in proposed budget plan for 2017-2018
The budget plan proposal for 2017-2018 announces significant changes in accordance with international taxation, and would be appropriate for individuals, multinational corporations operating in Israel and Israeli corporations operating abroad. The
See MoreIsrael: Tax benefits in draft Budget Law
The Finance Ministry has declared a draft proposals as part of the proposed Economic Arrangements Law 2017–2018 on 31st July 2016 that includes an expansion of tax benefits for hi-tech companies, at the same time further aligning Israel's tax
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