Client updates /  ITA

The Israel Tax Authority (ITA) published a new directive a few days ago that updates the rules for persons classified as disabled, blind, or injured during Israel’s various wars, and families of fallen soldiers.

An Israeli court ruled that the Israel Tax Authority overcharged apartment sellers who rented out their apartments under the tax-exempt track up until their sale, by a total of more than ILS 100 million. This ruling has major consequences, since the State treasury will be forced to refund the tax overcharges to the apartment sellers who are part of the relevant class. The Israel Tax Authority is expected to appeal the ruling.

In light of the coronavirus pandemic affecting the economic market, the Israel Tax Authority has published several reliefs for taxpayers.

The sanction-free voluntary disclosure procedure will come to a close at the end of 2019. Provided the Israel Tax Authority and the State Attorney’s Office decide not to extend this procedure, this may be the last opportunity to declare and report true income, and accordingly pay true taxes, without the disclosure being subject to criminal sanctions.