The Israeli
parliament approved Legislation on Bank Information exchange, which was
initially published as part of the fiscal sections of the proposed Law on the
Economic Arrangements accompanying the 2015-2016 Budget. The Legislation on
Bank Information exchange expands the right of the Israeli Tax Authority to
exchange information internationally. The Legislation on Bank Information
exchange will allow Israel to meet, among others, its obligations under the
Israel - United States FATCA Model 1A
Agreement that was signed on June 30, 2014, and the Standard for Automatic
Exchange of Financial Information of the OECD, known as the CRS or the Common
Reporting Standard. See more, here: Israeli Legislation on Exchange
of Information
See also:
Dr. Avi Nov Law Offices, Israeli &
international tax law
*This article is intended for informative purposes only and is in no way to be construed as tax advice or a legal opinion
*This article is intended for informative purposes only and is in no way to be construed as tax advice or a legal opinion
