Menu:
Updates:
January 6, 2010
Shpilberg CPAs Firm is the first Israeli member of Integra International (www.integra-international.net), a global net of Accounting and Consulting firms in more than 50 countries.
July 1, 2009:
Our accounting firm moved to new premises at Shekel Towers, 168 Jabotinski st. Bnei-Brak.
December 20, 2008:
The new website of Shpilberg CPA is in the Internet
Israel Tax Updates
Israel Online VAT Filing in 2012
January 2012
The Israeli tax office released data regarding VAT taxpayers who are obliged to file online detailed VAT reports starting January 1, 2012.
All taxpayers ,excluding financial institutes and non-profit organizations, whose turnover in 2011, including VAT, exceeded IS 2.5 million, or even with a lower turnover if these taxpayers must use double entry bookkeeping records according to the income tax regulations.
Non-profit organizations regardless of the number of their employees whose turnover in 2010 exceeded IS 20 million.
Financial institutes, e.g. banks and insurance companies , when their turnover in 2010 exceeded IS 4 million.
Repeal of Certain Capital Gains Exemption for Foreigners
July 2011
Starting July 7 Israel repealed the exemption granted to foreign residents for capital gains derived from state loans bearing a date of maturity of less than one year.
The repeal is aimed to prevent speculative transactions by foreign players causing appreciation in the foreign exchange market.
Israel Tax Rates 2010
January 2010
There are reduced tax rates in 2010 compared to 2009.
The corporate income tax rate in 2010 is 25%, compared to 26% in 2009.
Personal income tax rates for 2010 are 10% -45%, compared to 10%-46% in 2009.
Israel new V.A.T. Rate
July 2009
From 1.7.2009 the new V.A.T rate in Israel is 16.5%, compared to the previous 15.5% rate.
Sale of fruit and vegetables and services to foreign residents remain tax exempt ,contrary to the government's original plan to impose 16.5% on such sales and services.
Israel U.K. Double Taxation Treaty
April 2009
Israel and the U.K. signed on April 6 2009 a new protocol to the existing double taxation treaty between the two countries.
The new treaty relates, inter- alia, to tax withholding rates from payments of dividends and interest on government bonds, certain corporate bonds and pension funds.
The treaty exempts, for the first time, U.K. pension income of newcomers to Israel. In addition capital gains and royalties would be tax exempt in the country of origin.
Thus Israel residents would pay no tax in the U.K. on capital gains generated in the U.K., only in Israel, and vice versa.