Controller services for multi-national corporations
Multi-national corporations that open a branch in Israel are required to maintain bookkeeping differently than in the parent company’s country of residence. Mandatory reporting and transmission of information requires the company to maintain bookkeeping at the local branch in conformity with Israeli law, thereby exposing it to new obligations and processes. Our firm assists many multi-national companies that have decided to set up operations in Israel. We assist them in gathering, recording and reporting activities as required by the parent company overseas as well the authorities in Israel. As an example of the service we provide we provide assistance in calculating payroll for foreign employees, in conformity with tax laws in Israel and in the parent company’s country of residence.
Services provided by this department
- Putting in place a taxation plan and supervising its actual implementation
- Managing of financial reporting in local and foreign currency
- Producing current updates on the company’s financial, business and taxation standing
- Handling all contact with tax authorities and other Government authorities
- Regular interaction with the company’s Independent Auditor and Legal Counsel
- Putting in place a work process for approving and making payments to suppliers, employees and external entities.
- Monthly statements in Hebrew and English
- Assistance in preparation of employment contracts
Comprehensive bookkeeping, including payroll and operation, including preparing pay slips for employees, with English translation,
for reporting to and approval by the parent company
- Monthly reporting to tax authorities and making payments in conformity with the payment approval procedure
- Full preparation of financial statements for audit by the Independent Auditor