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A New Double Taxation Agreement with Switzerland?
Tax treaties aim to promote international trade by eliminating double taxation. Although the Israel Tax Authority and Israel’s Ministry of Finance have been reluctant to acknowledge a potential new tax treaty with Switzerland, the Swiss Finance Ministry has been more forthcoming. Swiss officials have confirmed that negotiations on the proposed treaty took place with the Israeli tax authorities in recent weeks.
Workplace Monitoring: What Is and Isn’t Allowed?
The growing use of technology in the workplace has raised new privacy concerns for employers and employees alike. Do employers have the right to monitor their employees? Read more.
World Tax 2015 Rankings
World Tax, an international guide to leading tax firms, recognized Barnea as a recommended tax firm in Israel.
Are Facebook, Apple, and Google’s Israel-Based R&D Centers a Blessing in Disguise?
Israel’s strengths have not gone unnoticed by multinational companies. A study by the Israeli Central Bureau of Statistics shows that international technology companies operating in Israel account for 63% of all investment in the country’s R&D centers.
Foreign companies that have established research centers in Israel, including Facebook, Google, Apple, Microsoft, IBM, Intel, and HP, employ more than 67% of the country’s R&D center workforce. Together, they employ 34,300 R&D staff, a figure that grows by 2% annually.
The presence of these corporate giants in Israel continues to grow as more companies recognize the advantages of establishing R&D centers in a thriving hub of innovation and invention.
Yet this growth has also raised concerns, particularly that foreign companies gain first access to breakthrough technologies developed in Israel.
Science, Technology, and Space Minister Yaakov Peri expressed this concern, saying that “Israel’s economy relies heavily on funding from other countries for research and development…this is a fragile situation…in which the main beneficiaries of Israeli creativity are the multinational companies.”
There is, however, another way to view their role. These centers nurture and train talented professionals, serving as incubators for budding entrepreneurs. Many employees leave multinational companies to launch their own startups, equipped with the skills, knowledge, and experience gained at these R&D centers.
The presence of foreign R&D centers and multinational companies in Israel also helps create jobs, generate new businesses, and contribute to the country’s economic output.
Barnea Ranked in IFLR1000 2015 Edition
The international legal directory IFLR1000 recognized Barnea’s expertise in Mergers and Acquisitions and Project Finance. It also named Adv. Simon Jaffa a “leader in his field.” The directory featured the following client testimonial: “Barnea has always delivered excellent work. They have a profound understanding of our company's needs and expectations, and do it in an efficient, expedient, cost-effective manner. Their knowledge of the local market is a plus, and they are always a pleasure to work with.”
Zero VAT on First Homes to Apply for Seven Years Only
The proposed 0% VAT measure for first-time homebuyers would remain in effect for seven years under a temporary ordinance. Leading business newspaper Globes examined its legal implications in an interview with Adv. Liat Keisary Yahalomi.
The Kibbutz Sector: The Challenges of Going Public
In recent years, many kibbutz enterprises have evolved from small manufacturers into international corporations. Globes brought together six experts for a roundtable discussion on the latest changes and developments in the kibbutz sector (p. 21).
Barnea Continues to Grow
The firm welcomes Adv. Ezra Katzen as a new partner in its Technology Department, along with Adv. Daniel Lorber and Adv. Mayer Winkler, who join the Commercial Department.
2014 Legal Highlights
Maariv’s year-end review highlights key legal developments in Israel, covering capital markets (by Adv. Micky Barnea), antitrust (by Adv. Zohar Lande), constitutional law, criminal law, infrastructure, tax, and money laundering.
Adv. Ezra Katzen Speaks at OurCrowd Mentor Breakfast
Adv. Ezra Katzen was the featured speaker at a meeting of OurCrowd’s mentoring group, where he discussed directors’ liability in a talk titled “Board Oversight: Oversee, Don’t Overlook.”
Are Online Ads Prohibited by Israel's Anti-Spam Law?
An Israeli District Court ruled last week that advertisements posted on websites as the result of the use of services provided by Google do not constitute spam according to the Israeli anti-spam law. For the full article, refer to the PDF below.
Barnea Represents Global Invacom Group Ltd.
UK-based Global Invacom Group Ltd. entered into an agreement to acquire OnePath Networks Ltd., based in Bet Shemesh, Israel. Barnea represented Global Invacom in the transaction.
BreezoMeter Wins Startup Open Israel Competition
BreezoMeter, the winner of the Israeli competition, was developed to make air pollution visible. Using real-time big data analysis, it provides air quality information at street-level resolution.
BreezoMeter competed against six other companies in the finals and will automatically join the GEW50, a list of the world’s 50 most promising startups.
The final took place in Jerusalem and was attended by Jerusalem Mayor Nir Barkat, investors, entrepreneurs, startups, and high-tech executives.
Adv. Michael Barnea, our managing partner said: “I am delighted that Barnea had the opportunity to take part in this special event. Our experience supporting entrepreneurs through incorporation, fundraising and the launch of technology and life sciences start-ups enabled us to contribute to the evaluation and selection of contestants. In doing so, we helped give the next generation of entrepreneurs an opportunity to present their ideas and gain international exposure.”
Startup Open was launched in 2010 as a Kauffman Foundation initiative and is part of Global Entrepreneurship Week. It is one of the world’s largest competitions for startups, attracting participants from more than 30 countries.
Upcoming Amendment to the Law for the Encouragement of Capital Investment
Since its enactment in 1959, the Law for the Encouragement of Capital Investment is one of the most significant means of growth and development for the Israeli economy and its industry.
Hana Gertler to Testify in Whitewater Holdings Trial
At the request of Canadian businessman Edwin (Benni) Tisch, businesswoman and Whitewater Holdings co-founder Hanna Gertler will testify in the Whitewater trial, following a ruling by Justice Ruth Ronen of the Tel Aviv District Court (Economic Department). Tisch alleges that Whitewater and Yogev made false representations and acted fraudulently, inducing him to invest millions in Whitewater Holdings. The company is in receivership and owes creditors approximately ILS 19 million. To read more, click here.
Adv. Ezra Katzen Addresses Seminar on Equity-Based Plans
The seminar, organized by ESOP-Excellence and starTAU, featured in-depth lectures on employee share option plans. Drawing on his many years of experience as general counsel to technology companies, Adv. Ezra Katzen discussed the practical challenges of administering these plans.
Startup Open – Final Event
The Startup Open final event will take place on September 22, 2014, in Jerusalem. The competition has given early-stage startups the opportunity to develop their ideas and present them to entrepreneurs and judges.
Israel and Germany Sign New Tax Treaty
Israeli Finance Minister Yair Lapid and his German counterpart, Wolfgang Schäuble, signed a revised tax treaty in Berlin on August 21, 2014. Last amended in 1977, the treaty has been updated to reflect modern international tax law and current economic relations between Israel and Germany.
Special Report: Israel – Law in a War Zone
Israel’s conflict with Hamas in Gaza is escalating. The fighting began on July 8, when Israel launched Operation Protective Edge in response to rocket fire from Hamas into Israel. Can lawyers continue to conduct international business in Israel amid the conflict?
Recent Events Have Had No Significant Influence on Israeli High-Tech
In recent radio interviews, Micky Barnea stated that Israel’s high-tech sector has not been significantly affected by recent events. Listen to the full interview at Galatz.