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Insights & News / Tax
February 8, 2018
Israel Hopes Lower Taxes, Less Regulation Will Spur Trading Boom
Dr. Zvi Gabbay, Head of our Capital Markets Department, and Adv. Harel Perlmutter, Head of our Tax Department, were interviewed by Bloomberg BNA regarding the Tel Aviv Stock Exchange's intention to reduce red tape and ease regulations in order to further continue the growth in the number of new companies being traded on TASE.
January 25, 2018
Israeli Tax Proposals for Blockchain, First Steps to Approval
Adv. Harel Perlmutter, the head of our Tax Department, was interviewed by Bloomberg BNA following the release of the Israel Tax Authority's new draft plan for taxing ICOs.
December 27, 2017
Everything You Need to Know about ICOs
Barnea is hosting an ICOs and digital currencies event today. Dr. Zvi Gabbay will lecture on regulation opportunities and challenges, while Harel Perlmutter will discuss the taxation of cryptographic coins and the Tax Authority's position.
December 15, 2017
Israel Arrests Two for Tax Evasion Linked to Panama Papers Leak
Following the Panama Papers leak, Israeli authorities have arrested two Israelis on suspicion of evading millions of shekels in tax payments by using companies registered in offshore tax havens. Harel Perlmutter, a partner and head of Barnea's Tax Department, commented to Bloomberg BNA that even though many Israelis were named in the leaked documents, most of them appear to have been using the offshore havens for reasons other than tax evasion.
November 28, 2017
Important Real Estate-Related Legal Decisions in 2017
Adv. Ariel Nadler, head of our firm's Real Estate Department, was interviewed by TheMarker's real estate magazine on the cancellation of the Multiple Housing Taxation Law by the Supreme Court. Ariel commented that regulators will now have to provide a solution to those people who already sold their apartments in order to enjoy the tax benefit that was guaranteed. He also noted that the cancellation will affect apartment owners considering to sell.
November 20, 2017
Workshop: Guidelines for Equity-Based Plans
Barnea is hosting today together with barneaXcrossing and ESOP Excellence, a morning workshop on equity-based plans for entrepreneurs and technological startups. Micky Barnea, Managing Partner, will discuss options plans for partners and employees.
October 4, 2017
Israeli Banks Told to Scale Back Overseas Activities after U.S. Tax Evasion Scandal
Adv. Harel Perlmutter, partner and head of Barnea's Tax Department, was interviewed by Bloomberg BNA, following the Bank of Israel's call on Israeli banks to redefine their strategies for overseas operations. Harel noted that the Supervisor of Banks at the Bank of Israel wants to keep the bank system strong even if it means cutting part of the banks' profits deriving from activity outside of Israel.
August 29, 2017
Dr. Zvi Gabbay Interviewed by Walla! about Investigation into Former Bank Leumi Officials
Dr. Zvi Gabbay, head of the Capital Markets Department at our firm, was interviewed by Walla! about a criminal investigation opened against former Bank Leumi officials in a US tax fraud scandal. Zvi believes American investigators will work closely with Israeli investigators on this case, via the international legal aid apparatus at the Justice Ministry.
February 8, 2017
Head of Deutsche Bank Israel Detained on Suspicion of VAT Offenses
Adv. Harel Perlmutter, Head of the Tax department at Barnea, was interviewed by Tax Analysts following the arrest of the chief executive of Deutsche Bank's operation in Israel on suspicion of violating VAT law. The Israel Tax Authority claims that the customers, in respect of whom Deutsche Bank reported its transactions as being zero rated, allegedly because they were conducted on behalf of “foreign residents”, were actually Israeli residents. Harel commented that it is often difficult to determine whether someone is a foreign tax resident.
February 5, 2017
Doing Business in Israel – Practical Law
Doing Business in Israel? A QA guide to doing business in Israel written by Barnea was published in the Practical Law website. The guide gives an overview of the legal system, foreign investment, regulation, and other issues pertaining to Israel.
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.
February 5, 2017
Considering Bitcoin an Asset Could Set Back Usage in Israel
Adv. Harel Perlmutter, Head of the Tax Department at Barnea, was interviewed by Bitcoin.com regarding the Israeli Tax Authority’s (ITA) draft on digital currencies. Harel commented that the draft circular is a declaration of intent from the ITA and at this stage no draft legislation has been published.
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.
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.
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.
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.
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.
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.
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.