Client updates / Accrual Basis

Reporting Methods – “Accrual Basis” or “Cash Basis”

16 March 2023 / Hanna Daher

Preparing reports on an accrual basis and adjusting them to a cash basis for tax purposes was an acceptable practice until the Israel Tax Authority (the “ITA”) determined otherwise. However, many companies still prepare two sets of reports, sometimes resulting in problems with the ITA.

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Client updates / Accrual Basis