- Israeli Tax Authority updates VAT thresholds and requirements starting January 1, 2025
- Exempt dealer turnover threshold set at 120,000 Israeli shekels
- VAT-registered buyers must request invoices for transactions over 350 Israeli shekels from January 1
- New threshold for additional VAT obligations set at 28,115 Israeli shekels
- VAT-registered businesses to report input tax surplus over 20,974 Israeli shekels from January 1
- Late reporting penalties of 239 shekels every two weeks starting July 1, 2024
- Penalty for poor VAT recordkeeping set at 1% of tax liability, minimum 359 shekels from July 1, 2024
Source: globalvatcompliance.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Israel"
- Israel Investigates Major Tax Fraud in Alibaba, AliExpress Imports by Tim International Transport
- Israel Accelerates CTC Invoice Allocation Number Timeline to Combat Fraudulent Invoices by 2026
- Israel Invoicing Model to Combat Fictitious VAT Claims, Thresholds for allocation numbers are NIS 20,000 in 2025, NIS 10,000 from 1 January 2026, and NIS 5,000 from 1 June 2026
- E-Invoicing in the Middle East: The Digital Tax Transformation Businesses Can’t Ignore
- Electronic Invoicing in Israel: CTC clearance model
