5 Major Developments in Israel

5 Major Developments in Israel

• Proposed VAT on Digital Services and Goods

• Israel-2023/2024 budget plan includes CTC and Pre-Clearance

• Israel Jumps on Board the Digital and Crypto Tax Bandwagon

• CTC Model Approved by the Government

• Israeli Supreme Court rules in favor of taxpayer for recovering input VAT on certain meal-related expenses

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Cryptocurrency and NFT

• Israel Jumps on Board the Digital and Crypto Tax Bandwagon

Deduction (Input Tax Credit)

• Israeli Supreme Court rules in favor of taxpayer for recovering input VAT on certain meal-related expenses

• Cooking up a tax plan for food

Digital Services Tax

• Israel VAT foreign digital services 2023 budget

• Israel Jumps on Board the Digital and Crypto Tax Bandwagon

• Israel VAT Foreign B2C Digital Services Jan 2024

• KPMG Week in Tax: 20 – 24 March 2023

E-Commerce / Electronic services

• Israel VAT foreign digital services 2023 budget

• Foreign Residents’ VAT Liability with respect to Importing Digital Services to Israel

• Proposal to amend the VAT Law for efficient collection of Digital Service taxes

• Proposed VAT on Digital Services and Goods

E-Invoicing

• Israel B2B e-invoicing budget proposals

• Progress on Implementing Continuous Transaction Controls

• Israel-2023/2024 budget plan includes CTC and Pre-Clearance

Environmental Tax

• Plastic tax in Israel disappears under religious pressure

• Israel Planning U-Turn On New Plastics, Sugary Drinks Taxes

Exemption

• Israel Considers Revoking VAT Exemption for Tourists to Boost Revenue

• Tour operators urge Finance Ministry to keep VAT waiver for tourists

• Israel Mulls Canceling VAT Exemption for Foreign Tourists, Sparking Concern in Tourism Industry

• Israeli VAT Exemption for Tourists to Continue Despite FM’s Objection

• Israeli VAT exemption for tourists to continue despite FM’s objection

Implementation / Reform

• Israel Planning U-Turn On New Plastics, Sugary Drinks Taxes

Legislative Change

• Israel-2023/2024 budget plan includes CTC and Pre-Clearance

Liability (Reverse Charge/Withholding)

• Foreign Residents’ VAT Liability with respect to Importing Digital Services to Israel

Rate

• Key Israel business group seeks steep cut in food tax

• Israel Considers Revoking VAT Exemption for Tourists to Boost Revenue
• Israel VAT Foreign B2C Digital Services Jan 2024

Real Time Reporting/Continuous Transaction Controls

• CTC Model Approved by the Government

• Economic plan for the years 2023-2024: reduction of the use of fictitious invoices through CTC

• Progress on Implementing Continuous Transaction Controls

Refund

• Israel plans to cancel VAT exemption for foreign tourists

• Israel Considers Revoking VAT Exemption for Tourists to Boost Revenue
• Israeli VAT exemption for tourists to continue despite FM’s objection

Registration

• Foreign Residents’ VAT Liability with respect to Importing Digital Services to Israel

Reporting / Compliance

• Cooking up a tax plan for food