מס הכנסה (Income Tax) is the primary tax authority in Israel, equivalent to HMRC in the UK and the IRS in the USA. Before going into depth on any one subject, it is worthwhile to look at some of the basic concepts within the Income Tax Law. Israeli residents are subjected to Israeli taxation on their worldwide income. A credit is given for foreign tax paid. Non-Israeli residents are subject to Israeli taxation only on their Israeli-earned income. The tax year runs from 1st January through to 31st December. Tax files are joint between husband and wife. Whilst the tax calculations are generally seperate, both