Israeli Tax on Trusts

Following a major reform to Israeli tax law, a trust with a foreign settlor may be taxable in Israel if one of the beneficiaries is an Israeli tax resident. A new law passed by the Israeli parliament introduced the notions of Foreign Residents’ Trust and Israeli Resident Beneficiary Trust. These two will be discusses here. 

See more here: Israeli Tax on Trusts with a Foreign Settlor

See also:

Changes in Israeli Taxation of Trusts

Israeli Tax Incentives to Olim: New Rules Proposed
Dr. Avi Nov Law Offices, Israeli & international tax law 
 

Form 5329 by the Israeli Tax Authority

The Israel Tax Authority initiated recently a project that aims to collect information from individuals who usually do not have to file annual tax returns and in addition that were identified as hiding income. Various individuals are asked to file Form 5329, as explained
below. See - Israeli Tax Authority Collects Information

See also:

Israeli Tax Authority Hunts Undeclared Income

Israel will Receive Information from Tax Havens

Dr. Avi Nov, Adv.

Israel to Tax Wallet Companies

The Israeli Tax Authority made public a discussion draft concerning the taxation of wallet companies. A wallet company refers to a situation in which a company is set up for tax purposes, has made profits and hasn’t distributed them. 

See Israel Proposes to Tax Wallet Companies

See also: Israel Tax Authority attacks wallet companies.

New Tax Rules proposed for Underlying Companies

New Israeli Tax Rules for Underlying Companies