VAT
VAT is an indirect tax that is added to almost every transaction. It is a tax imposed on the value added in the transaction and constitutes one of the central tax laws in the State of Israel. Being such a central tax that allows traders to conduct a self-assessment and offset the tax they owe […]
Income tax
Income tax is a direct tax imposed on the income of an individual or entity. Tax laws allow for the deduction of expenses incurred in generating the income, so in practice, the tax is imposed on the profit. In addition to deductions for allowed expenses, there are situations where losses from previous years can be […]
Import taxes
In the field of import taxes ( customs, purchase tax, excise duty ) and foreign trade processes, the firm assists its clients in the civil and criminal aspects in all matters related to tax rates, refunds, exemptions and refunds. The firm provides its clients with advice and assistance in all matters related to the import […]
What is a tax investigation?
A tax investigation is essentially an economic investigation and is carried out by the investigation departments of the Tax Authority in the various districts. There are tax investigations that incorporate additional criminal offenses besides tax offenses, in which case the investigation will be conducted in cooperation with additional investigative agencies, for example the Israel Police, […]
When can the accounting books be discarded?
Every business is required to manage accounting books and receipts from the first day of operating the business. Managing the books depends on the type of business, its scope and the industry in which it operates. The VAT and Income Tax accounting book management instructions are complex, cumbersome and not easy to implement. These are […]
Dealing with a tax assessment issued based on best judgment
Every business is required to maintain accounting books and receipts from the first day of operating the business. Bookkeeping depends on the type of business. The rules for bookkeeping are found in the Income Tax regulations (Management of Account Books). Many business owners and taxpayers find themselves in a situation where they have been assessed […]
Enduring Power of Attorney
“A man’s desire is his glory” A durable power of attorney is a legal document that allows any adult (over the age of 18) to explicitly determine the identity of the person who will be authorized to make decisions on his behalf and handle his medical and/or financial affairs on the day he is no […]
Tax offenses – fictitious tax invoices
A tax invoice issued illegally – for a service or sale made under false pretenses – is called a ” fictitious invoice .” Buying a fictitious invoice and reporting it as input means reducing the amount of VAT that the trader must pay, and reducing payments to the Income Tax and the National Insurance Institute, […]
Money laundering as an alternative to criminal proceedings for tax offenses
Tax offenses are considered serious offenses in the Israeli legal system due to their direct impact on the economy and public trust. These offenses include tax evasion, false reporting, use of fictitious invoices, and more. In some cases, the criminal proceeding can be converted to a ransom payment, which allows the proceedings to be concluded […]
Assigning tax invoice numbers – what do you need to know?
The new law regulating the issue of assigning tax invoice numbers, enacted as part of the Arrangements Law for the years 2023-2024, changes the rules of the game for businesses in Israel. The main goal of the law is to combat the phenomenon of fictitious invoices and strengthen transparency in VAT reporting processes. At the […]