On 31 May 2023, legislation was enacted that introduces temporary amendments to Israel’s VAT law designed to improve controls over the VAT invoicing system and address the issuance of fictitious invoices. The legislation will take effect as from 1 January 2024, with the Ministry of Finance having the power to extend the provisions beyond the 2024 “pilot” year, so that the new requirements are progressively implemented over a five-year period.
Source: Deloitte
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