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Latest Updates / Tax
December 28, 2021
Tax Refunds for Salaried Employees
Tax refunds are not just a matter for the self-employed. In an interview with Israel Hayom to mark the end of the tax year, Harel Perlmutter, the head of our firm’s Tax Department, provides valuable advice on the subject.
October 5, 2021
“Pandora Papers” Scandal: N12 Interview with Harel Perlmutter
The “Pandora Papers” scandal, revealed yesterday, shines a spotlight on the world of tax havens.
Firm partner and Tax Department head Harel Perlmutter addresses the issue in an interview with N12.
September 14, 2021
District Court Ruling: Azrieli Foundation Exempt from Paying Taxes on Dividends
An Israeli district court rejected the Israel Tax Authority’s attempt to force the Azrieli Foundation to pay taxes in the amount of tens of millions of shekels for dividends it received and continues to receive due to its holding in Azrieli Group's shares. The court accepted the tax appeal, which was filed by Barnea Jaffa Lande, and ruled that the Azrieli Foundation, a non-profit organization that works for the public good in Israel, is not the controlling owner of Azrieli Group and is therefore entitled to a tax exemption. The court ruled, among other things, that the ITA’s position could have a chilling effect in relation to business entities’ support of philanthropic associations. Our firm's Zohar Lande, Eyal Nachshon, Harel Perlmutter, Nir Ziman, and Omer Keydar represented the Azrieli Foundation throughout the proceedings, which lasted about five years.
August 4, 2021
Tax Facts on Renting Out Apartments in Israel and Abroad – Podcast with Firm Partner Harel Perlmutter on Calcalist Website
Are you renting out an apartment? It is important to be aware of the existing rental income tax tracks, if there is a difference between the taxation of short-term rental apartments and long-term rental apartments, and the rules on renting out apartments abroad.
Adv. Harel Perlmutter, partner and head of our firm's Tax Department, addresses all these questions in a comprehensive podcast on the taxation of renting out apartments in Israel and abroad.
July 17, 2021
Israeli-UAE Tax Treaty
On May 31, 2021, Israel and the United Arab Emirates signed a tax treaty. This is the first tax treaty between the states. It is expected to go into effect on January 1, 2022, after passing the necessary ratification processes in the Knesset and the government.
July 1, 2021
Options to Buy Shares in a Company – Important Things to Know
Offering options to buy a company’s shares has become a legitimate benefit even for companies not in the high-tech field.
As experts in the field, we were interviewed by Globes on what it means to receive options in a company.
June 7, 2021
G7 Countries to Impose Global Minimum Corporate Tax Rate
Last weekend, the leaders of the G7 countries signed an agreement to impose a uniform global corporate tax rate of 15%.
Harel Perlmutter, partner and head of our Tax Department, was interviewed by Calcalist about the decision and its impact on Israel.
April 12, 2021
Will Raising the US Corporate Tax Rate Affect Israeli Companies?
The planned corporate tax rate hike in the United States has Israeli investors worried about further developments and the impact on Israeli companies. As an expert in the taxation field, Harel Perlmutter was interviewed by Bizportal on the issue and its implications.
December 9, 2020
Harel Perlmutter Op-Ed: Recognize Childcare Expenses for Tax Purposes
Harel Perlmutter, the head of our Tax Department, has published an op-ed in Globes on the importance of recognizing childcare expenses for tax purposes, particularly now during the coronavirus period.
November 24, 2020
Second Phase of Financial Assistance Grants for Third Sector Kicks Off
Several days ago, the second phase of financial assistance grants for third-sector companies kicked off. Compared to the first phase, the size of a company's revenue for grant eligibility was expanded, as were the period of harm and the maximum assistance threshold.
November 17, 2020
Haifa District Court: Repurchasing of Shares Is Not a Tax Event for Remaining Shareholders
In a bold step, the Haifa District Court rejected the Israel Tax Authority’s position on a company’s repurchasing of shares, and in effect split with a ruling of the Tel Aviv District Court, who considered a similar issue several years ago.
August 5, 2020
Barnea Representing Original Shareholders the Topaz Family in Sale of Holdings in Keystone Group
About a year and a half after the investment fund Accelmed, which is managed by Uri Geiger, announced the merger of the company it controls, American Keystone Group, with the Israeli Paltop company, controlled by Shmuel Topaz, it is now acquiring the entire holdings in Paltop for NIS 100 million. This ends the conflict between the investor groups of Paltop and Accelmed. We represented the Topaz family and the Paltop investors.
August 2, 2020
It Is Time to Come Back Home: Investors Can Now Enjoy a Reduced Purchase Tax
Israeli Minister of Finance Israel Katz’s plan to reduce purchase tax for investors has gone into effect. Until now, under plans advanced by the previous Minister of Finance, Moshe Kahlon, for lowering housing prices and pushing investors out of the real estate market, the purchase tax for investors went up from 5% to 8% for an apartment that was not the purchaser's sole apartment.
July 20, 2020
Returning Residents: Welcome Back to Israel?
Each year, many returning residents arrive in Israel. Following the COVID-19 outbreak, the number of people seeking to return to Israel has increased even further. The process of returning to Israel is not simple, and returning residents face enormous difficulties as part of it. A Ynet article on the subject featured an interview with Harel Perlmutter, a partner and the head of the firm’s Tax Department. Harel explained: “Those who return to Israel after less than six years abroad have almost no tax benefits.” He added that “there is a great confusion about the rights and benefits returning residents are eligible to from the National Insurance Institute. Over the years, the benefits for returning returns have been cut back, and this has kept people away from the country.”
July 2, 2020
Taxation of Hedge Funds in Israel – A Short Guide to the Perplexed
A hedge fund is an entity comprised of several investors seeking to invest in financial assets to achieve a common profit, where the execution of the investment may change from one fund to another, in accordance with the investment strategies put in place by the fund manager.
June 22, 2020
Barnea Represented Cyberx Shareholder in Microsoft Acquisition
We represented Inven Capital, a Czech-based VC fund and a shareholder in Cyberx Israel, an Israeli IoT ICS cybersecurity startup, in Cyberx's sale to Microsoft for USD 165 million. CyberX has gained tremendous customer growth, with a number of leading companies using its IoT security platform to protect their web facilities. Cyberx has raised about USD 48 million since its inception in 2013. This is Microsoft’s eighth acquisition in Israel in the last decade.
June 14, 2020
All the Tax Considerations Returning Residents Need to Know
Adv. Harel Perlmutter will lecture on a webinar held by Toshav Chozer NPO. The webinar is focused on the tax considerations returning residents to Israel should be familiar with. The decision to return to Israel, normally a very complicated one, has taken on new meaning with the impact of the coronavirus. Harel will discuss all tax rights.
May 20, 2020
Doing Business in Israel – Practical Law
This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, IP, etc.
May 17, 2020
How to Arrange the Inheritances of Agricultural Farms
If you are the owner of agricultural land, you may find yourself wondering about the future of the family farm after your passing. You should know this is subject to laws, agreements, protocols, and regulations unique to the agricultural sector in general and to land in particular.
April 26, 2020
Tax Advice on USD 20 Million Investment in CyberMDX
Our tax team advised the strategic partner Sham (Relyens Group), Europe’s largest insurance and risk management provider for healthcare, on the tax aspects of its USD 20 million investment in CyberMDX, an Israeli healthcare cybersecurity provider that delivers visibility, threat prevention, and operational efficiency for medical devices, IoT, and clinical networks.