Israel Tax Plan for 2017-2018

The Israel Tax Proposals for 2017-2018 budget include major changes with respect to Israeli international taxation. The Israel Tax Proposals for 2017-2018 would be relevant mainly for individuals in Israel, foreign companies operating in Israel, and Israeli companies operating abroad. The Israel Tax Proposals for 2017-2018 budget plan and the related tax measures are pending approval by the Knesset. See more: Israel Tax Proposals for 2017-2018

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

Israeli Tax Update - Kontera

 The Tel Aviv District Court ruled recently in the tax case law of Kontera Technologies Ltd on the application of employee stock option in cost plus agreements. This issue is relevant for Israeli research and development companies that service foreign related companies on a cost plus basis. In the Kontera case, the judge, Magen Altuviah, ordered that expenses incurred by an Israeli subsidiary of a US parent in relation with an employee stock option plan should be included in the cost basis in calculating the cost plus payment despite the fact that such expenses are disallowed as tax deductions for Israeli tax purposes. The court accepted the position of the Israeli Tax Authority in this case, which resulted in a significant increase in the taxable income of the Israeli R&D subsidiary. For more information, see - Israeli Tax Update: the Kontera Case

See also: Israel Taxation of Multinational Companies

For other tax cases, see: Israel Case Law 

Dr. Avi Nov Law Offices, Israeli & international tax law 

Israeli Voluntary Disclosure Program

The Israel Tax Authority announced recently that the temporary Voluntary Disclosure Program will remain in effect until June 30, 2016. Israelis with undeclared capital and income may apply to the Israel Tax Authority under the Voluntary Disclosure Program, in order to avoid criminal proceedings.

The original expiration date was scheduled to be September 7, 2015, but has been extended to be June 30, 2016. As a result, Israelis can still submit applications under the anonymous route, as well as the shortened route, as detailed in the Voluntary Disclosure Program. See more here –

The Extended Voluntary Disclosure Program

See also:

The New Israeli Voluntary Disclosure Procedure

Israeli New Voluntary Disclosure Program

Israel's voluntary disclosure of offshore income

Dr. Avi Nov Law Offices, Israeli & international tax law 

Dr. Avi Nov, Adv.