The Tax Authority announces the granting of an additional extension to operate the Israeli invoice model

• As of May 5, 2024, businesses can only deduct input tax from invoices over NIS 25,000 if there is an allocation number.
• The Tax Authority has extended the deadline to implement the Israel invoice model to May 5, 2024, to help businesses comply with the law.
• This extension is particularly for those who have not completed their technological preparations due to the ongoing conflict.
• The aim is to combat fictitious invoices and black capital, which have caused significant financial losses to the state.
• The Authority will reach out to business owners in the reserves and frontier communities to assist them in registering for the system.
• The amendment to the VAT Law requires allocation numbers for tax invoices above NIS 25,000, issued through an online system by the Tax Authority.

Source gov.il

• See also Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological

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