Tax Blog Subscription

Dream To Blog?


Israel Is No Longer A Tax Haven!

Israeli Flag

Moshe Asher: The Tax Authority plans to provide information to relevant countries about foreign residents’ capital in Israel.

“We won’t be a tax haven for foreign residents,” said Israel Tax Authority director general Moshe Asher at the conference of the CPA Association of Jerusalem conference on December 17, 2013.

He said that the Tax Authority planned to provide information to relevant countries about foreign residents’ capital in Israel, and that these countries will reciprocate about the foreign assets of Israelis.

Asher said that foreign banks already provide information about Israeli citizens, under an expedited procedure at the Ministry of Justice. He advised relevant parties to Voluntarily Disclose information.

This could be a result of efforts made by the US to crack down on US Citizen’s with undeclared Israeli Bank Accounts. We discussed this crack down in our posts IRS Continues Crack Down on Undeclared Israeli Bank Accounts! and More Tax Problems for U.S. Citizens with Foreign Bank Accounts in Israel.

Source: Globes’

In accordance with Circular 230 Disclosure

Mr. Marini concentrates his practice in Representation before the IRS and All Other Tax Authorities, IRS Collections, Offers in Compromise, Installment Payment Plans, Appeals, Sales Tax Audits, International and Tax Law, Asset Protection and Estate Planning.

Facebook Twitter LinkedIn Google+ 

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>