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Residency in Israel for Tax Purposes

Tel Aviv, Israel

Taxpayer’s residency for tax purposes is to be determined according to the Israeli Income Tax Ordinance with the “centre of vital interests” test defined under Section 1 of the Israeli Income Tax Ordinance of 1961. Israeli residents are subject to individual income tax, capital gains tax and social security tax  on a worldwide basis. Non-residents […]

Controlled Foreign Company (CFC), Transfer Pricing & Group Consolidation

Tel-Aviv

Controlled foreign companies (CFC) The CFC rules are applicable to any foreign company controlled by Israeli Shareholders (50% of the shares) and that has accumulated undistributed passive income taxed at a rate below 20%. The Israeli shareholders will be assessed and taxed on their proportionate share of the undistributed income at a rate of 25%. […]

Israel’s Double Tax Agreements (DTA)

King David Hotel in Jerusalem

Israel is a signatory to a Treaty for the Prevention of Double Taxation with more than 40 countries all over the world. Draft agreements with additional countries are at the discussion stages. Israel grants a foreign tax credit for foreign taxes paid on non-Israeli sourced income. Double Taxation Prevention Treaty takes precedence, in all cases, […]

Taxable Income & Rates in Israel

King David Jerusalem

Taxable income Corporate income is assessed on a worldwide basis for resident companies. Non-resident companies are assessed on income that is accrued in or derived from/in Israel. A corporation is considered to be resident in Israel if it is registered and organised under Israeli law or if it has it central management and control in […]

Tax Regime for New Immigrants and Returning Citizens in Israel

Alyiah to Israel

As opposed to the world’s fight against hidden offshore bank accounts and tax havens companies, Israel recently amended its tax laws providing New Immigrants and Returning Residents with extreme tax benefits, including a 10-year tax exemption on foreign sourced income and gains, as well as no reporting requirements on such income or gains. The 1st […]

Determination of Taxable Income in Israel

Haifa

Taxable income in Israel includes, but is not limited to salaries, business income, dividends, interest, pension, rents and royalties. The income tax burden falls on gross income. In regard to employees, the tax is deducted at the source each month based on wages paid by the employer, who bears the burden of the payment of all taxes the 15th of each month or every two months depending on the size of the company. The […]

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