Israeli Foreign Corporation Taxation FPC & CFC In 2014, tax laws were revised to clarify regulations surrounding corporations and their business activities overseas. Specifically, FPCs or Foreign Professional Companies are addressed. An FPC has the following requirements: It must be owned by less than five individuals that are not in the same family 3/4th of […]
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IRA What is an IRA? An IRA or individual retirement account is a savings account with specific tax advantages regarding people saving for the long-term future. While an IRA is not an investment, it is within an IRA account where investments such as mutual funds, bonds, and stocks are held. An IRA can be open
Last week, Switzerland announced they would petition the Israel Tax Authority to provide information on prominent Israeli businessmen’s’ assets in Switzerland. This decision came after a February announcement to over 100 Israelis and 150 related companies that Israel had requested specific information to assist the Tax Authority in tax collection proceedings. Under Swiss law, anyone
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Foreign Nationals Investing In The American Financial Markets Foreign Nationals Investment, unlike the difficulties of a foreign national opening an American bank account, which you can read here, there is no citizenship requirement for owning equity in the United States financial investment marketplace. There are some extra steps foreign nationals will need to go through
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The United Nations (UN) are the intergovernmental core of peaceful relations across the globe. This means that member states, collectively collaborate to establish diplomacy, stronger political and social relationships, and most importantly developing an economic rapport. As the UN are a government organisation this means that their staff are granted numerous privileges and immunities in
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Israel Value Added Tax (VAT) Value added tax is thrust on any transaction completed in Israel. The VAT can be imposed on imports of goods, provisions of services, and other business activities. The VAT is a single rate from the sum of the transaction or the price of the goods. It also applies to all
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The Reduction Use of Cash Law came into force in 2019, following its enactment in March 2018. The reduction of cash use has been implemented in both business and personal transactions. The purpose of reform is designed by the Israeli government to combat illegal activity. It has been recognised that cash has been the “fuel”
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