International taxation - Immediate support due to the Corona crisis provided by the National Insurance Institute
e wish to inform you in brief that due to the Corona crisis, the following are the benefits provided by the governmental National Insurance Institute of Israel ("the NIII"): •Employees who leave on furlough are entitled to unemployment benefits (under certain conditions, in particular, a six-month employment period of one-and-a-half years before the furlough). The NIII will provide an unemployment wage to the mentioned unemployed.
International taxation - Enforced residency – the impact of the Corona curfew on residency for tax purposes and related issues
n these frenzied days, most of the citizens of the country are under curfew in their homes, following directives or recommendations that have been issued by the Ministry of Health. Furthermore and in light of the circumstances, most business people are now located within the borders of the State of Israel, even though in normal circumstances they are in the habit of staying out of the country for business
International taxation - Control and management from Israel at the end of the benefits period
As is well known, a foreign company will be deemed to be a company that is resident in Israel, if the control of its business and the management thereof are operated in Israel even though it was
Transfer pricing ("TP") tax implications should be regarded as a key factor, in relation to any cross border transaction. A re-llocation of income by any tax authority may cause significant tax liabilities and double taxation, in addition to a possible tax inspection by the Israeli ITA. It should be noted that the Israeli TP rules are under...
International taxation - Transfer pricing: What to declare to the Tax Authority - a new form in your tax return
International taxation - Voluntary isclosure - taxation on capital as part of the Voluntary Disclosure Procedure by the Tax Authority is legitimate
Over the last decade many Israeli residents have sought to settle previously unreported accounts of foreign - held assets and the income generated by them with the Tax Authority. This was typically performed by a formal petition to the Tax Authority via the Voluntary Disclosure Procedure. The procedure has changed over the years, has been extended periodically, and even allowed for submission of anonymous requests and negotiations until an arrangement was reached.
International taxation - VAT - service provision to foreign residents on an e-commerce marketing website is subject to full VAT
The Tax Authority has just published a tax ruling (decision 4429/19), about VAT obligations for services rendered to a foreign resident via operation and management of a website advertising products of foreign suppliers abroad that provides links (affiliation) to the supplier websites abroad for purchase. The taxation decision states that full VAT applies to income from these services despite the rule that a zero rate VAT applies to services provided to foreign residents.