November 02, 2020

Expanding Documentation and Reporting Obligations in International Transactions

The Israeli Ministry of Finance published two Memoranda of Law which seek to expand the documentation and reporting obligations of multinational groups operating in Israel. However, in the course of amending the Income Tax Ordinance (ITO) and the related regulations, in order to implement the CbC, the Israel Tax Authority is “quietly” seeking to significantly expand the obligations imposed on taxpayers who engage in international transactions, including taxpayers who are not part of large multinational groups.

Partners Daniel Paserman (CPA), Head of Tax and Shlomo Aviad Zider, in a client update regarding the expanding documentation and reporting obligations in international transactions.

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