Israeli Banks Taxation

Various actions taken by Israeli authorities in recent years have a great impact on Israeli banks and on Israelis residents who hold bank accounts around the world. The following articles summarize the actions taken by the Israeli authorities in recent years with vast influence on banks in Israeli and on residents of Israel who hold foreign bank accounts:

Israeli Banks and Tax Compliance

Israel will Exchange Information on Bank Accounts

Israel and U.S. Sign FATCA Agreement

Israeli Banks and Foreign Residents

New Israeli Bill to implement FATCA
Israeli Tax Authority Collects Information

Israeli Tax Authority Hunts Undeclared Income

Voluntary Disclosure - Deadline delayed
Israel's new voluntary disclosure of offshore income

Dr. Avi Nov, Adv.

Banks in Israel and Tax Compliance

The Bank of Israel joined the global fight against tax evasion and sent recently to Israeli banks a draft practice concerning their clients who are foreign residents. The draft practice, sent by the Supervisor of Banks David Zaken, requires Israeli banks to receive from their foreign clients a singed declaration that they have paid tax on the income, generated in their Israeli bank accounts, in their country of residence. It seems that the new procedure will cause foreign residents to withdraw their money from Israeli banks. For more information, see: Israeli Banks and Tax Compliance

See also:

Israel will Exchange Information on Bank Accounts

Israel and U.S. Sign FATCA Agreement

Israeli Banks and Foreign Residents

Dr. Avi Nov, Adv.

Israeli Law to Implement FATCAIsraeli Law to Implement FATCA

The Israeli Tax Authority published recently a draft bill regarding the implementation of the Foreign Account Tax Compliance Act (FATCA). This new bill follows negotiation between Israel and the United States on an agreement regarding the implementation of the FATCA. See more, here - New Israeli Bill to implement FATCA

Dr. Avi Nov, Adv. 

Tax Havens and Israeli Tax Law

The recent reports that Benjamin Netanyahu held an offshore bank account in the tax haven of Jersey led to public discussions in Israel. See -

Tax Havens are Attractive for Israelis

Many Israelis are concerned if it is this going to become harder now to hold an offshore bank account. See also: TaxHavens, an interview on TLV1 Radio, The Cost of Doing Business, January 20, 2014

‪The Use of Tax Havens by Israelis‬‏ - YouTube

Interview with Dr. Avi Nov, on TLV1 Radio, The Cost of Doing Business, January 20, 2014. Benjamin Netanyahu shakes off allegations of misconduct involving an off-shore bank account in Jersey back in 2003, many Israelis follow in his footsteps. But just how many? And has increased international scrutiny on tax havens made it difficult for Israelis to stash their cash abroad? Dr. Avi Nov, a tax lawyer specializing in Israeli and international tax law answers various questions in this interview 

See

‪The Use of Tax Havens by Israelis‬‏