As we approach the end of the tax year we are happy to bring to your attention important tax updates that can help you submit the information to the tax authorities at the right time and manner. See our list of money saving tips for the end of the tax
This is how you can avoid paying double capital gains tax! If you are considering selling shares in US companies it is important for you to know: In accordance with the tax treaty between Israel and the U.S, the first right to tax on capital gains from the sale of
The State of Israel grants a tax benefit to new immigrants and returning residents. The purpose of the benefit is to encourage potential “Olim” and Returning Citizens of Israel to make Aliyah. The benefit is valid for 10 years, it grants an exemption from reporting and paying tax on income
With the end of the tax year fast approaching, here are a few action items that may be relevant. For Individuals If you haven’t already done so, make a claim for the Working Tax Grant (negative income tax) in respect of 2016 income. The deadline is December 29. If you
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
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
Approved by the Knesset just before the new tax year, here are 10 changes to Israeli tax law for 2017 and beyond. It’s important to note that some of these rules have not yet been fully clarified, but we will be keeping track of any changes to come. Self-Employment and
Each year, all employees are required to complete Form 101 for each place of employment and give it to the person in charge of the salaries. Technically, this needs to be filled out on January 1 (for continuing jobs). For practical reasons, however, it is sufficient to complete it before
The latest amendment to the tax law was publicized last week. Among the sections included in the new law was a section dealing with the circumstances in which the Israeli Tax Authority is permitted to exchange information with other tax authorities across the world. Without going into the details of
A very common investment for people is property, i.e. receiving rental income. For these purposes, property income refers to income from any type of property (rents), including land (i.e. ground rent). This post will not deal with gains made on the sale of any property. For tax purposes, the nature
