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February 2015

Feel free to join the Tax in Israel Facebook group The trust laws relate to the revocability of the trust. This can affect which type of tax rules apply to a particular trust (see here for the introduction to trust taxation).This post will consider what makes a trust revocable or irrevocable from the point of view of the Israeli tax law. In subsequent posts we will see how and when this becomes relevant.A trust is considered irrevocable if it is not a revocable trust. The following is a list of situations whereby a trust is considered revocable. Only one of these situations need to apply for

In August 2013, the taxation of income within trusts underwent a huge reform, with a vast array of changes to the pre-existing law. The law came into effect as of 1st January 2014, but there are still a number of unresolved issues; particularly pertaining to foreign tax credits. The following posts will look at the types of trust set out in the tax law, and the various options for how the trust income is to be taxed in Israel. This post will deal with some background and defintions. So, what is a trust? Without going into the fine legal detail, a trust exists

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