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Home · Tax · Latest Updates

Latest Updates / Tax

February 2, 2017

AtoBe – Azrieli College of Engineering Startup Accelerator

Adv. Harel Perlmutter, Head of the Tax Department at Barnea, lectured today on taxation of startups at the AtoBe – Azrieli College of Engineering Startup Accelerator.

January 31, 2017

International Taxation – New Draft Bill Will Require Foreign Companies to Report and Pay Tax in Israel

The Israel Tax Authority (“ITA”) is promoting legislation that will require foreign companies not subject to the Israeli tax regime today to report and even pay tax in Israel.

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January 25, 2017

Seminar on the New Multiple Housing Taxation Law

Barnea is conducting on February 14th a morning seminar on the new Multiple Housing Taxation Law. Adv. Maya Zisser, Partner at the Real-Estate Department will lecture on the new tax - to whom does it apply, the tax rate, payment methods, exemptions and credits. Adv. Harel Perlmutter from the Tax Department will lecture on tax saving opportunities in respect of rental income.

January 24, 2017

Israel Seeks Tax on Bitcoin, Virtual Currency Transactions

Adv. Harel Perlmutter, Head of the Tax Department at Barnea, was interview by Bloomberg regarding a draft circular of the Israel Tax Authority on taxation of virtual currencies (bitcoins and the like). Harel commented that the draft imposes almost insurmountable restrictions on the use of virtual currencies in Israel, due to the liabilities and costs involved.

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January 22, 2017

Draft Circular on Taxation of Activities Using Virtual Currencies

The Israel Tax Authority published a draft circular on taxation of virtual currencies (bitcoins and the like). According to the Draft, the ITA’s position is that virtual currencies should be deemed “assets” and not as currency or foreign currency or even as financial instruments.

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January 19, 2017

Important Information about New Tax on Owners of Multiple Apartments

The new law prescribes that, as of January 1, 2017, every taxpayer must pay tax annually (January through December) for every residential apartment that he owns in excess of two apartments, at the sum defined pursuant to the provisions of the law. The taxpayer will be allowed to choose which of his apartments he deems to be his first two apartments, and which shall be taxable under this law.

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December 11, 2016

“Wallet Companies” – Draft Tax Bill within the Scope of the Arrangements Law for 2017 - 2018

Recently, the Finance Committee concluded its deliberations regarding the imposition of tax legislation pertaining to “wallet companies” within the scope of the Arrangements Law for 2017 – 2018.

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December 6, 2016

Expected Amendments to Tax Legislation in 2017

Adv. Harel Perlmutter, Head of the Tax Department at Barnea was interviewed by Ynet regarding the expected tax amendments going into effect in 2017.

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November 10, 2016

The Supreme Court Rejected Yaacov Peri’s demand for Reduction From tax payable on an Exercise of Options

This week the Supreme Court rejected Yaakov Peri's demand for a tax reduction from the tax authorities from an exercise of options received by the public company, Lipman Electronic Engineering. Adv. Harel Perlmutter, Head of the Tax Department at Barnea was interviewed by Globes and noted that during the period in which the controversy arose, there was a difference between corporate tax (35%) and capital gains tax (25%) for companies. Today, when the tax rates are identical, there are no implications arising from the nature of the tax imposed on the taxpayer.

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September 5, 2016

For the First Time, Tax Relief Has Been Approved for Contributions to an Israeli NPO Operating Abroad

In an unprecedented action, the Knesset Finance Committee has recently recognized an Israeli organization operating abroad as a ‘public institution’ pursuant to section 46 of the Israeli Income Tax Ordinance. Such recognition affords the non-profit organization, a tax benefit, by way of a tax credit to donors for their donations granted to that organization.

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August 31, 2016

EU: Apple ordered to Pay Ireland 13 Billion Euros in Taxes

Harel Perlmutter was interviewed yesterday by leading newspapers regarding the EU Commission’s order against Apple to pay 13 billion Euros ($14.5 billion) to Ireland in respect of unpaid taxes. According to Perlmutter, Apple could be hit with billions of dollars in assessments for back taxes after this landmark decision.

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August 30, 2016

Apple Must Pay 13 Billion Euros in Back Taxes to Ireland

Adv. Harel Perlmutter, Head of the Tax Department at Barnea, was interviewed by several media following the European Union's ruling that Apple was given illegal tax benefits over two decades, therefore will need to pay 13 billion Euros in back taxes in Ireland.

August 28, 2016

Amendment of the Income Tax Ordinance – Information Exchange Between Tax Authorities

An amendment to the Income Tax Ordinance that was recently enacted obligates financial institutions to identify the residency and citizenship of their foreign account holders. The financial institutions are required to report the information to the Israel Tax Authority, so that the ITA can then relay that information to the relevant foreign tax authority.

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August 25, 2016

New Superior Court Ruling Regarding Taxation of Non Compete Benefits

After years of district courts issuing contradictory rulings, the Supreme Court recently resolved the ambiguity surrounding the classification of compensation in respect of non-competition covenants when employees leave employers.

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August 23, 2016

Reverse Vesting and Holdback – Good News for Entrepreneurs?

On July the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.

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July 27, 2016

Reverse Vesting and Holdback – Good News for Entrepreneurs?

Earlier this month the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.

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June 30, 2016

Israel Tax Authority extends Voluntary Disclosure period

The Israeli Tax Authority (ITA) has announced this morning that the temporary Provision regarding the voluntary disclosure procedure which was supposed to expire today, has been extended until December 31st, 2016.

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June 28, 2016

The Israel Tax Authority conducted an audit of short term landlords

Adv. Harel Perlmutter, Head of the Tax department at Barnea, was interviewed by Globes following the announcement by the Israel Tax Authority regarding tax audits of short term landlords. Harel explained that these landlords are liable not only for the payment of income tax, but also for the payment of VAT.

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June 19, 2016

New Tax Ruling on the Subject of Holdbacks

The Israel Tax Authority published a tax ruling given by it recently that sheds light on the existing ambiguity when classifying proceeds from a sale of shares of a company

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May 17, 2016

Tax treaty between Israel and Germany

On 21 August 2014 a new tax treaty between Israel and Germany was signed. The new treaty, which is based mainly on the model tax treaty of the OECD, introduces a number of favorable amendments (for the taxpayer) and improvements.

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