Arab Israeli Conflict
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The basics you need to know about filing taxes in Israel.
Israeli business law follows Western principles thanks to British rule from 1917-1948, the hi-tech revolution of the last 20 years and OECD membership since 2010.
The government currently is functioning on a month-to-month basis based on the 2014 budget and the deficit for the year is actually expected to hit close to the original 2.5% target
By LEON HARRIS
The code points out that the extent of the ITA’s responsibility and broad powers necessitate adherence to a high ethical level.
A report by the OECD to the G-20 leaders before the summit sheds light on which companies with international operations are more likely to receive a knock on the door or an inquisitive email from their tax office.
Now the whole VAT issue has been thrown open by a recent tax ruling and a recent court case.
Israeli financial institutions have begun reporting details about the accounts of US persons to the Tax Authority who forward it all electronically to the US Internal Revenue Service (IRS).
We believe the proposed 15% US federal tax rate may deter US businesses from moving out the US. It may not be enough to make Israeli businesses uproot to the US.
The Finance Ministry launched its “Family Net Plan” on April 18.
As always, consult experienced tax advisers in each country at an early stage in specific cases.
It is unfortunate the ITA has stopped publicizing the taxpayers’ rights charter.
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