Updated VAT amounts for invoicing, periodic reporting, and penalties

• threshold of the NIS 321 for requesting an invoice from a seller; 
• the obligation to submit to the bank periodic reports for input tax excess of less than NIS 19,222; 
• a fine of NIS 223 for each two weeks late submission of relevant reports; and 
• A minimum penalty of NIS 334 for poor recordkeeping.

Source: GVC

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