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Israeli tax department

Israeli tax department

Tax is one of the most important factors in any financial activity, and we therefore believe that it must be taken into account as part of the business and economic planning of the client’s activities. Correct planning and an intimate knowledge of the various laws of the tax authorities allows us to build an accounting basis that allows for economic growth, saving tax payments, and saving excessive and tiring dealing with the tax authorities.

Our tax departments provides solutions to individuals, non-profits and companies in Israel. We build for our clients a holistic tax plans that includes solutions that can be put into place and are appropriate for their needs. The staff in the department includes accountants qualified in Israel, UK and USA, who are expert in the various tax systems and are up to date on changes. Due to the intimate knowledge of the law and our rich experience, we help hundreds of clients to enjoy the fruits of their labor whereby they are armed with a stable tax basis which includes thought-out solutions allowed them to save monies and help them to build on their successes.

Furthermore, our departments provides a wide ranging service for clients with activities in Israel and abroad. A client who is required to file tax returns in both Israel and elsewhere will find in our office a holistic approach that takes into account the two tax systems and how they interact. Our firms provides the most effective overall strategy in order to keep to a minimum the tax burden from both an Israeli and foreign perspective, and all provided under one roof. In this way, our firm provides a unique service whereby the same firm will file both sets of tax returns for the client. Our experts are knowledgeable in the various tax laws and systems, and are able to take into account the various taxes across jurisdictions, and as such to reduce the worldwide tax burden, and to prevent double tax and tax accidents

Corporation tax

A company operating in Israel will find, within the tax department, all of the necessary services in order to plan their taxes in a sensible way, and to build a basis for the continuation of its operations. Our tax department does everything that it can in order to keep the company’s tax burden to a minimum, as well as accompanying, advising and proving instruction to companies undergoing various activities: investments, land purchases, mergers & de-mergers, R&D etc. The department also represents companies to the tax authorities, including income tax, VAT, Social Security, Land Tax and Salary withholding tax as well as other matters such as pre-rulings, tax audits etc.

Individual taxation

Individuals with financial activity in Israel will find within our tax department a full solution to their various activities:

Personal taxation: preparation and filing of personal tax returns, capital declarations and voluntary discourse. Accompanying and advising vis-à-vis the various tax authorities in respect of assessments, including payments or refunds from Bituach Leumi. As well as assisting clients with business transactions such as sales of assets, investments etc.

Services of the departments:

  • Pre-rulings and opinions – planning ahead of time with the Israeli tax authority in order to establish the tax status of transactions for individuals and corporations. The procedure allows the intended moves to be examined ahead of time and therefore allowing for decisions to be made with full knowledge and eliminating excessive tax or significant financial undertakings. The procedure includes getting confirmation in the following areas: corporate restructuring, transferring assets for consideration of shares, mergers & acquisitions, de-mergers and other complicated restructuring.
  • Tax audits and tax payment scheduling – representation of the client in front of the tax authorities, including presenting the client’s affairs to the inspectors, justifying tax positions taken within the framework of the law and obtaining assessment agreements
  • Others audits – representation of the client in front of the tax authority and/or Bituach Leumi in respect of payroll deductions, detailing with VAT issues and representing clients in respect of checks of bookkeeping records
  • VAT liabilities – assisting clients with dealings of the VAT authority in respect of complex VAT issues and giving opinions and solutions to our clients and other departments
  • Non-profits – accompanying the non-profit in applications for recognition of donations to be deductible for tax purpose in accordance with Section 46 of the Income Tax Ordinance and Section 61 of the Land Tax Law
  • Encouragement and capital investment laws – advice in respect of various tax incentives available and finding the ideal path for the client to choose
  • Investments and holdings in Israel and abroad – wide ranging tax planning in respect of mergers, acquisitions and de-mergers, as well as transferring assets, in orders with various tax incentives given by the law
  • Land tax – wide ranging tax advice in respect of land purchases or sales, including: land appreciation tax, reports to the Land Tax Authority, optimal tax planning and pre-rulings from the tax authority
  • Voluntary Disclosures of hitherto undisclosed sources of income and assets
  • Capital declarations