This post is a similar post from last year, with the required amendments etc. pertinent to the 2013 tax year. The deadline for filing your 2013 tax return is Monday 30th June 2014. The Tax Law states that every Israeli resident is required to file a tax return every year,
Anyone receiving income from a salary knows that their employer will deduct tax at source, in accordance with the tax and Bituach Leumi laws (see also here). As such, the government gets regular tax revenues from employees; how often depends on the size of the employer. In a similar fashion,
In the same way that employees are required to pay Bituach Leumi on their salary, so too is a self-employed person required to pay Bituach Leumi on their earnings (profit). The boundaries for the lower and upper levels of tax are the same as for employees, but the percentages to
Interest is income generated from the giving of a loan. This includes the easily-recognisable situations of a bank-deposit, as well as somewhat more obscure sources such as tax refunds (where the tax-man has effectively “borrowed” the money from the taxpayer) and period pay-outs on bonds. Taxation of interest falls into
The deadline for filing your 2012 tax return is Sunday 30th June. As previously discussed, the tax year in Israel runs from 1 January to 31 December, i.e. concurrent with the calendar year. Tax returns cover the year in question, and obviously cannot be filed until the start of the
The Tax Law states that every Israeli resident is required to file a tax return every year, and doing so late results in hefty penalties (in excess of 1,000 NIS for each month between the official deadline and the actual filing). That being said, a supplementary ruling to the law
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
