Weekly Newsletters
We deem it appropriate to update our colleagues and clients, in this news bulletin, regarding a number of legislative processes and temporary orders which are relevant at the present time. 1. Raising Taxes: • The rate of VAT has been raised up to 17% (instead of 16%), effective from September 1, 2012. • In August 2012...
The provisions of the Israeli Income Tax Ordinance (hereinafter: "ITO") make the offsetting of a capital loss contingent upon the situation whereby had there been a profit, it would have been liable to tax. This stipulation is a basic principle in all matters pertaining to the possibility of the offsetting of losses, also with regard to losses...
An income tax circular which was published by the Income Tax Authority in Israel (hereinafter: the "ITA") sets forth criteria for the Tax Assessor at the time of determining an assessment for a taxpayer who does not possess the reference documents to substantiate the existence of any particular expense or the cost of any...
The provisions of the Israeli Income Tax Ordinance (hereinafter: "ITO") make the offsetting of a capital loss contingent upon the situation whereby had there been a profit, it would have been liable to tax. This stipulation is a basic principle in all matters pertaining to the possibility of the offsetting of losses, also with regard to losses...
On 12 January 2012, the Israeli District Court of Appeals (case no 1029/00), published a ruling which highlights the guiding principles on when a company established abroad will be considered to be Israeli resident for tax purpose, as far as the management and control of its business are conducted in Israel. In this case...
On February 1st, 2012, the Supreme Court issued a new ruling regarding the individual taxpayer's entitlement to consolidated or separate calculation of the tax liability of the taxpayer and his\her spouse (the Malkieli case). It should be emphasized that in a separate calculation, each spouse's tax liability is determined separately...
As mentioned in our 10th Tax Alert, a treaty for the avoidance of double taxation was initiated on November 2010 by and betweenIsrael and Malta. On August 2011, the treaty was signed by both countries, and will enter into force following the formal ratification procedure by both states, assumingly not before 2013. For details...
As mentioned in our 10th Tax Alert, a treaty for the avoidance of double taxation was initiated on November 2010 by and betweenIsrael and Malta. On August 2011, the treaty was signed by both countries, and will enter into force following the formal ratification procedure by both states, assumingly not before 2013. For details...