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February 2017

As part of the 2017-18 Budget, the government required that, as of the 2017 tax year, those who are self-employed are required to pay into an Israeli-recognized pension plan. The amounts required by law are as follows (for 2017):Monthly  profit (NIS) Yearly profit (NIS) Percentage contribution required Max. required monthly contribution (NIS) Max. required yearly contribution (NIS)On portion from NIS 0 – 4,836 On portion from NIS 0 – 58,038 4.45% 215 2,583On portion from NIS 4,836 – 9,673 On portion from NIS 58,038 – 116,076 12.55% 607 7,284On portion above NIS 9,673 On portion above NIS 116,076 0% 0 0For example:A freelancer whose annual profit is NIS 45,000 must contribute at least NIS 2,003 into a

Proceed with caution! Are you sure that your income will fall under Israel’s 10-year tax exemption? One of the most crucial parts of an Aliyah plan is for employment after arriving in Israel. Arriving with a signed job contract in hand, however, is extremely unusual. One possibility to ease the transition to working in Israel is keeping your current job. While this continuity can provide a boost to both your bank account and your morale, there are important tax questions that must be addressed – and the ideal time to do this is before you move.Israeli Income Tax and the 10-year

As part of the 2017-18 budget, the government introduced a new tax on the owners of multiple residential properties, which took effect on January 1, 2017. The tax is levied on the value of the properties, irrespective of their use or rental status/income. It should also be noted that this tax is being administered by the Land Tax Authority, rather than the Income Tax authority. We set out below the basic details of the rules in an FAQ format. Our FAQ below covers the basic details and is based on the law, as well as the guidance provided by

Israeli tax law states that every Israeli resident or household is required to file a tax return every year in a timely way, whether or not taxes are due. The current deadline for filing your 2016 tax return is May 31, 2017 (it may be extended by a month); a late filing may result in hefty monthly penalties. But a supplement to the law grants exemptions from filing if you meet certain criteria; the exemptions are mostly focused on people who will not have to pay additional taxes.Special Circumstances and Who Must File There are, however, households which will be required to

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