Tax in Israel

[...] Once you have filed your tax return properly (see here for more), the tax authority will issue an assessment of the taxes that you [...]

[...] the required amendments etc. pertinent to the 2013 tax year. The deadline for filing your 2013 tax return is Monday 30th June 2014. The Tax Law states that every Israeli resident is required to file a [...]

[...] So you're filing an Israeli tax return, either because you are required to do so (see here for more) or because you want due (and [...]

[...] Feel free to join the Tax in Israel Facebook group As part of the disclosures required in the tax return, anyone who is considered a controlling shareholder in a non-Israeli company must complete form [...]

[...] , but are providing monetary support. A court judgment to that effect should be handed to the tax office. (11) Tick if you are remarried and are paying alimony to the former spouse. Again, a court [...]

[...] ); and doing so will give you a filing extension until 6:30pm on the 19th. That being said, the tax office has another way in which to collect taxes on an ongoing basis. Under certain conditions, your [...]

[...] , but are providing monetary support. A court judgment to that effect should be handed to the tax office. (11) Tick if you are remarried and are paying alimony to the former spouse. Again, a court [...]

[...] to miss the deadline, you can always send in a letter requesting an extension. Usually the tax office will agree to such an extension by two-three months. As explained, perhaps the most important [...]

[...] Feel free to join the Tax in Israel Facebook group Over the last fortnight or so, the tax authority has sent out a number of letters to Israeli residents whom it suspects have not reported of [...]

[...] Yesterday (7th September 2014), the Israeli tax authority finally published their long-awaited and anticipated Voluntary Disclosure scheme. Anyone who [...]

[...] spouses. Non-Israeli family members do not fit into this category. That being said, the tax authority can also grant an exemption for a gift given to someone else if they can be persuaded that the [...]

[...] if you file a tax return for the year you want to carry forward from. This is to allow the tax authority to check and agree the permissibility of the losses. This is of particular importance in the [...]

[...] be relevant: If you haven't already done so, make a claim for the Working Tax Grant (negative income tax) in respect of 2013 income. The deadline is Friday 26th December. If you are a business with [...]

[...] , and for anyone received a pension pre-pension age. The deduction works in different ways for Income Tax and Bituach Leumi purposes: (1) Income Tax - purely on a cash basis, so any prior-year [...]

[...]  is lower for "greener" vehicles. This value is added to the taxable income for income tax and Bituach Leumi purposes. Cellphone Similarly, if the employer gives the employee a cellphone [...]

[...] In addition to Income Tax, Israel levies Bituach Leumi (National Insurance or Social Security) on earned income (and [...]

[...] country can tax certain incomes and in what scenarios. The Double Tax Treaties override the local tax law, so you get the best of both worlds. This post will assume that a Double Tax Treaty is not in [...]

[...] to foreign tax credits. The following posts will look at the types of trust set out in the tax law, and the various options for how the trust income is to be taxed in Israel. This post will deal [...]

[...] any funds, and thereby not pay any Israeli tax on the income until funds are needed. As such, the tax law includes a section on Controlled Foreign Companies (CFC), whereby the Israeli shareholders are [...]

[...] profession is carried out abroad, and the profits are not directly taxed in Israel. As such, the tax law sets out rules for a Foreign Professional Company (FPC). These rules were revised for 2014, and [...]

[...] income, and the same rules and rates apply. Israeli tax law though allows you to reduce the Israeli taxes due on that income by taking a credit for any foreign taxes paid. (See here for the classic [...]

[...] are subject to tax and tax has been deducted at the maximum rate. (8) Other income exempt from Israeli taxes. If the total gross income of (7) and (8) combined is at least NIS 337,000, no exemption is [...]