5 Major Developments in Israel

5 Major Developments in Israel

• More details on CTC system and its implementation timeline published

• To combat fake invoice fraud, the Ministry of Finance of Israel introduces pre-clearance B2B e-invoices between 2024 and 2028.

• Enhanced invoicing requirements to be introduced to claim input VAT credit

• Israel Announces A New Plan For e-Invoicing

• Israel Introduces its Electronic Invoice Clearance Model

---

Customs

• Current ATLAS information on PEM, GGED and goods with preferential origin Israel

• New TARIC code Y864 to be declared in box 44 of the SAD for imports from Israel into the EU

• Preferential origin: New union code Y864 for Israel preferential origin goods

Deduction (Input Tax Credit)

• Israel has announced a New Detailed Plan for Implementing E-Invoicing

• Enhanced invoicing requirements to be introduced to claim input VAT credit

• Establishment of NPO in Israel: taxation

E-Commerce / Electronic Services

• Israel VAT foreign B2C digital services delayed

• Israel to introduce VAT on foreign B2C e-services sales from Jan 2024

E-invoicing

• Israel Introduces its Electronic Invoice Clearance Model

• Israel Announces A New Plan For e-Invoicing

• Israel has announced a New Detailed Plan for Implementing E-Invoicing

• Israel B2B E-Invoicing 2024

• Israel introduces its electronic invoice clearance model

• Israel to introduce CTC model

Fraud / Tax Evasion

• To combat fake invoice fraud, the Ministry of Finance of Israel introduces pre-clearance B2B e-invoices between 2024 and 2028.

Importation

• New TARIC code Y864 to be declared in box 44 of the SAD for imports from Israel into the EU
• Preferential origin: New union code Y864 for Israel preferential origin goods

Invoice

• Enhanced invoicing requirements to be introduced to claim input VAT credit

• Establishment of NPO in Israel: taxation

Rate

• Yair Lapid Offers 2% VAT Cut Instead of Billions in Israeli Coalition Funds

Real Time Reporting/Continuous Transaction Controls

• Israel Announces A New Plan For e-Invoicing
• To combat fake invoice fraud, the Ministry of Finance of Israel introduces pre-clearance B2B e-invoices between 2024 and 2028.

• More details on CTC system and its implementation timeline published

---

---