Taxation

• Voluntary Disclosure – Advice and assistance to individuals in Israel and abroad in applying for voluntary disclosure through the different tracks available and formulating reporting approaches according to the up-to-date instructions (2014) of the Tax Authority (in Israel) and extant procedures. Our firm also specializes in on-going representation before the different tax authorities in Israel and, if necessary, in the courts, whether the matter is civil or criminal. Such handling is carried out discreetly and with the utmost sensitivity required.

• Court Representation – We provide representation for individuals and organizations (both large and small companies operating in such areas as real estate, energy, industry and finance, entrepreneurship and financial institutions) on tax issues – real estate taxation in particular – including representation of clients before different tax authorities, for instance, before departments and bureaus handling taxation of real estate; we file objections to and appeals of assessments and, if and when necessary, we would file administrative appeals and petitions with the Supreme Court.

• Transnational Taxation – Our firm provides advice and opinions to individuals and companies looking to optimize tax payment under Israeli legislation and international treaties. Moreover, our office also provides counseling to individuals in such cases as returning residents, staff relocation, immigrants, artists/athletes (who operate internationally) and to trusts. The array of services we provide include the establishment of offshore companies overseas, handling European directives, dealing with American Taxation issues (especially, taxation of U.S. citizens acting in Israel), LLCs, taxation of partnerships, intellectual property taxation, taxation of artists and athletes.

• Real Estate Taxation – Our office specializes in the business and legal aspects of real estate, an area where the firm provides a comprehensive set of services designed to address issues related to real estate taxation, starting with a preliminary assessment of the situation according to the nature of the transaction sought and drafting relevant opinions, which may be followed by formulating tax strategy plans, designed to optimize the tax burden placed on the client. Furthermore, when necessary and advisable, we can provide representation before tax authorities, file administrative appeals and pursue legal action in court.

• Accompaniment of Contractors, Entrepreneurial Companies and Certain Professionals Specializing in Real Estate – Complete accompaniment of contractors and Entrepreneurs as well as certain professionals specializing in real estate (Attorneys, CPAs and Tax Consultants) who deal with tax matters, regarding corporate taxation, residential taxation, taxation of combination transactions, taxation applicable to buying groups, taxation of TMA 38 projects, taxation of foreign consultants. 

• Corporate Taxation –Our firm assists and advises artificial entities on tax matters affecting corporations, partnerships and non-profit organizations; we provide effective tax planning to agencies and organs, regarding taxation of controlling shareholders of corporation, workers, foreign consultants, freelancers, capital gains tax, mergers and acquisitions, etc. Our handling in these areas is extensive and is applied both procedurally vis-à-vis the various authorities and in the sphere of litigation, before various tribunals and courts.

• Income Tax and Value Added Tax (VAT) – Our office has the tools for providing ongoing advice to individuals and organizations when dealing with matters of income tax and VAT, including such matters as tax refunds, employees taxation, non-profits, corporate taxation, capital gains tax, import/export (customs fees and levies), tax adjustments, handling issues related to invoices and representation before tax authorities and assorted collection agencies.

• Transnational Working Relationships – Our firm is associated with CPA firms, engineers, appraisers and leading tax advisors in the country. In addition, our office has transnational working relationships with professional offices in the U.S., the U.K., Italy, Spain and Turkey. These factors allow us to address the extensive international activities of our clients abroad in real-time and with the requisite insight.

Reporting Procedure Regarding Concealed Income and Property

In early September 2014 Israel Tax Authority published a new procedure, designed to allow citizens and residents of Israel, who had failed to report certain types of income in recent years, to now report them making a late tax payment but avoiding any penalty. The procedure is intended, among others, to provide an avenue of avoiding penalties and prosecution for citizens who have had income from bank accounts abroad but do not report income at that locale, or who have had income from apartments rental in Israel or abroad, or income from the sale of assets inherited abroad and the like, all of which went unreported.

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The Main Points of Amendment 76 of the Real Estate Tax Act

Amendment 76 Income Tax Act (Value Appreciation and Acquisition) -1963 (hereinafter, the "Act") significantly reduces the availability of exemptions from the tax levied on the sale of residential apartments . The main changes are as follows:

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For a complete review of the performance provisions regarding real estate taxation: click here