July 24, 2018

Gornitzky represented Delek Group in an appeal before the ITA involving tax assessments for the sale of its holdings in Delek US Holdings.

Gornitzky represented Delek Group in an appeal before the Israel Tax Authority involving tax assessments for the sale of its holdings in Delek US Holdings (NYSE: DK).
The District Court accepted the company’s position, claiming that in light of the fact that the American target company’s profits were fully taxed in the US, the capital gain representing the accrued profits of the target company is exempt from tax in Israel. This is the first time an Israeli court accepts such a claim, based on international tax policy.
The company was represented by Partners Daniel Paserman (CPA), Head of Tax at our firm, and Shlomo Aviad Zider.

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