Search by Practice
Latest Updates / Startups
October 27, 2024
Extension of Purchase Tax for Investors - Interview with Maya Carmi
The Ministry of Finance intends to extend the purchase tax for investors, currently set at 8%, as part of the Arrangements Law for 2025, which has led to strong opposition from contractors. Attorney Maya Carmi from our firm was interviewed by Yedioth Ahronoth and stated, among other things, that the purpose of freezing the tax rate is to disincentivize investors from purchasing apartments, thereby increasing the supply of available apartments and reducing prices, which would allow young couples and people from lower socio-economic backgrounds to buy homes.
October 27, 2024
"Three Judgments a Week" by Globes: Representation in Appeal Regarding Tender Rejection
In the "Three Court Rulings a Week" section, the ruling in which the Supreme Court annulled a tender for public transportation services in the Golan was selected, due to a conflict of interest involving a lawyer who advised the tender committee while also providing legal counsel to the winning bidder. Adv. Eran Winner, representing Superbus, which was declared "second qualified" in the appeal to the Supreme Court, stated: "We are pleased that the Supreme Court emphasized the importance of maintaining the integrity of the tender process. However, we regret that it was not established as a precedent that the entire tender should be annulled; rather, only the winning bid was disqualified, and our company was declared the winners of the tender as 'second qualified.'"
October 15, 2024
New Court Ruling Clarifies Legal Boundaries for Offering of Foreign Investments in Israel
The Tel Aviv District Court handed down an important ruling recently regulating the activities of entities distributing alternative investments in Israel. In many instances, the distribution activities are accompanied by conversations and correspondence with potential investors, which constitute investment advice, and this is where matters become complicated.
October 14, 2024
Taxing of apartment purchases in buildings slated for demolition
The district court’s position in its recent ruling in the Ahuzat Allenby Ltd. case has significant implications for investors, developers and private individuals who purchase apartment buildings slated for demolition and are looking to change the zoning of the purchased properties.
October 11, 2024
Summary of the Most Significant Legal Rulings in Real Estate for the Jewish Year
The Real Estate Center interviewed the leading legal experts in the real estate field, including Adv. Terry Almozlino-Arnon, head of our Real Estate Department, regarding the most significant rulings of the year in planning, construction, and urban renewal. Terry highlighted a Supreme Court ruling focused on contracts made with apparent intentions and the Court’s zero-tolerance stance towards such conduct.
October 10, 2024
Tax innovations in Israel during 2024
Over the past year, alongside handling the economic repercussions of the war and issuing financial assistance to war victims and to evacuees, the courts, the legislative authority and the Israel Tax Authority continued their efforts in the legislative arena and issued several significant tax rulings. Following are the most important innovations relating to income tax, real estate tax and VAT.
October 10, 2024
Retail Fintech 2024: Key Trends and Growth Insights
Venture capital investments in the retail fintech sector rebounded significantly during the second half of 2024, with investments reaching USD 4.5 billion. PitchBook’s latest report indicates that the market is identifying new opportunities in companies focusing on the retail sector and is introducing refreshing innovations in retail. The report presents several interesting insights and findings and provides an in-depth perspective on the retail fintech sector and its impact on the retail industry.
October 9, 2024
Appeal Rejected – Coca-Cola Expected to Pay Hundreds of Millions of NIS to the State
Adv. Hanna Daher, a partner in our firm’s Tax Department, describes in an op-ed for N12 the precedent set by the court's ruling in the Coca-Cola case. Hanna notes that this decision could prompt Israeli companies to reassess their agreements and contractual arrangements with foreign entities.
October 9, 2024
Understanding DORA: An Overview of the Digital Operational Resilience Act
The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions.
September 30, 2024
Interview with Eyal Nachshon: When should you sue the airline in a class action?
Eyal Nachshon, an expert in class actions, was interviewed by Globes following the recent rise in motions to certify class action, mainly due to the escalation in the security situation. Among other things, Eyal noted: "Nowadays, people tend to rush to file lawsuits in order to be first in line, but it’s important to stop and consider whether this is the right legal tool for their specific case."
September 24, 2024
Webinar: Payment Services Law – More Relevant Than You Thought
Our firm hosted a webinar in collaboration with the GCS organization for legal advisors, focusing on the Payment Services Law. The webinar was designed for legal advisors in companies within the financial and service sectors. Presenting at the event were our lawyers, Zvi Gabbay and Anat Even-Chen, along with CPA Julie Raboy, who delivered a lecture on the technological adjustments required in light of the law.
September 22, 2024
Important updates on the Israeli money market reform
The Israel Securities Authority has published several additional revisions to the Israeli money market reform since the Knesset approved legislative amendments designed to promote competition in the money market, and since the draft directives and rules were published approximately two months ago. The money market reform relates to money market mutual funds, deposits and government bonds (short-term loans maturing in no more than one year).
September 22, 2024
New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders
The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment companies and holders of basic initiation licenses or approvals are required to submit annual, semi-annual, quarterly, and immediate reports on various topics, such as audited or reviewed financial data, operational data, compliance with capital requirements, technological measures, corporate governance, compliance etcetera.
September 18, 2024
Dr. Avishay Klein in TheMarker on the importance of implementing an AI policy in public companies
As an expert in the field of artificial intelligence, Dr. Avishai Klein referred to the need for public companies to formulate an artificial intelligence policy. As per his advice, companies with a clear policy, transparent reporting, human supervision and proper management, can retrieve the most out of those technologies, increase the trust of investors and customers, and reduce risk.
September 18, 2024
Regulation in the 2024: A Summary of Key Changes and Outlook for the Future
Several statutory arrangements and regulatory guidelines have been published thus far during 2024, particularly in relation to the capital market, the financial sector and privacy protection, as well as various circulars addressing corporate governance and risk management, with the objective of increasing certainty for businesses and for the public as a whole.
September 18, 2024
Minimal purchase tax: the upcoming taxation decision that will affect real estate investors - an interview for Globes by Terry Almozlino Arnon
The minimum purchase tax for real estate investors is expected to decrease automatically by the end of the year unless the government decides otherwise. Adv. Terry Almozlino Arnon, was interviewed on this matter by Globes and noted, amongst other things, that "This is not a market that can wait for January. In the last two years, we have experienced as effects in the real estate market - the increase in interest rates, the legal reform, the Swords of Iron war and the general uncertainty that has prevailed here."
September 17, 2024
The Consumer Protection and Fair-Trade Authority: businesses are required to disclose changes to product characteristics or components.
Recently, the Consumer Protection and Fair-Trade Authority issued a position paper regarding the disclosure obligations businesses must meet when making changes to product characteristics or components. According to the position paper, any material change in a product's characteristics or components must be clearly and prominently displayed on the product itself, allowing the consumer to make an informed decision regarding the product. This is because consumers typically do not recheck a product’s features or ingredients, when they purchase it regularly.
September 17, 2024
Board of Director’s responsibility for data security in a company
The Privacy Protection Authority has issued a mandatory guideline holding the board of directors fully responsible for information security, with heavy fines for violations. The guideline requires the board to oversee compliance with regulations and develop organizational policies, particularly for entities processing sensitive personal data.
September 16, 2024
Regulatory highlights for small and medium-sized businesses
There has been a growing outcry recently against the ease at which class actions alleging a variety of offenses are being filed against small and medium-sized business-owners. Almost every week since October 7, news media have been reporting about business owners who were called up for reserve duty, spent months defending the country, and who, upon returning home after completing their tour of duty, are then forced to fight in the courts because a warning letter was waiting for them with a demand for high sums of compensation. Much has been written about this and about the impacts that such demand letters have on reservists – personally and at the business level. And as reported, this issue should be examined by the legislative authorities.
September 12, 2024
Barnea: Representing Daily.dev – Top 21 Startups in Israel
Proud to represent daily.dev - entrepreneur selected as one of the 21 most promising startups of 2024 by N12 in collaboration with the IVC.