Israel: VAT Position of Foreign E-retailers
Non-resident retailers of goods and digital services to Israeli consumers will remain outside of the Israeli VAT net. This is the result of a decision of the High Court that has struck down a petition from local online retailers that E-retailers
See MoreIsrael: Information regarding controlled transactions and documentation
According to the Art. 57 of Act 90/2003, parties are considered as related if they are part of a group under Art.2 Act 3/2006. The majority of shares is owned, directly or indirectly, by two or more legal entities within the group or they are
See MoreIsrael and Azerbaijan to sign a Double Tax Avoidance Agreement
Azerbaijan and Israel are going to sign a Double Tax Agreement for the avoidance of double taxation. Azerbaijan's State Customs Committee has reported that trade turnover between Azerbaijan and Israel in 2013 reached $1.28 billion. Azerbaijan
See MoreCanada: FTA with Israel is under negotiation
A first round of negotiations for a Free Trade Agreement (FTA) between Canada and Israel was held from 3 to 9 February 2014, in
See MoreIsrael: Action required for releasing trapped profits by 11 November 2013
Only those companies have to apply the temporary partial relief from Israeli corporate income tax until 11 November 2013, who wish to release their trapped exempt profits that were accrued until December 31, 2011. Companies will have to submit their
See MoreColombia-Israel FTA signed
Colombia and Israel has signed a Free Trade Agreement (FTA) in Jerusalem on September 30, 2013. According to Tourism and Industry Minister, the agreement has reached after 18 months of negotiations and under the agreement, import tariffs will be
See MoreIsrael-Online Advance Tax Ruling Requests
The Tax Authority of Israel has recently announced that it has adopted a trick to improve services and reduce bureaucracy for tax advisers by launching a new service which will allow accountants, lawyers and tax practitioners to apply online for
See MoreIsrael – Government Approves Budget 2013-2014
The Budget for the fiscal year 2013-2014 has been accepted by the Israeli government initiating important changes to both individual and corporate tax regulations. The laws regarding tax rates will take effect as of January 1, 2014, and the
See MoreIsrael: Budget for the FY 2013-2014
Israeli cabinet has approved the Budget for fiscal year 2013-2014. The VAT rate has been raised to 18% as from June 1, 2013 (previously 17%). The corporate income tax rate has been increased to 26% from 25% and the personal income tax rate will be
See MoreTax Treaty between Israel and Panama
Israel signed a tax treaty with Panama on 8 November 2012. The treaty contains an Article on the exchange of information between the tax authorities of the two states, which is based on the OECD’s model treaty. Panama is currently aiming to
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