The Israeli Tax Authority (ITA) has extended the deadline for implementing Israel’s invoice clearance model until May 5, 2024. The new model requires businesses engaged in B2B transactions above a specific threshold to obtain an allocation number for their invoices. Input tax deduction will be allowed without an allocation number until May 4, 2024 (previously March 31). The ITA’s clearance platform has been operational since January 1, 2024, and invoice issuers can request allocation numbers for their invoices.
Source Sovos
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