The reform will impact multinational corporations operating in Israel such as Microsoft, Intel, Google, Apple and Amazon.
The network of companies distributed and offset fictitious invoices amounting to tens of millions of shekels for money-laundering and tax offenses.
The bill grants an additional tax credit to parents of children aged 6 to 17.
The use and consumption of eggs always increases around the time of holidays in Israel.
By David Isaac
The NIF is incorporated as a foreign company in Israel and therefore its Israeli donors aren’t entitled to tax benefits.
PA Arabs are protesting the PA plan to tax their cellular phone subscriptions and transfer the money to eastern Jerusalem.
By Jewish News Syndicate (JNS)
Large-scale deliveries are intended to beat the January increase in the purchase tax on electric vehicles from 10% to 20%.
It's been dubbed the Netflix tax.
Since the PA announced in mid-May that it was severing relations with Israel, it has refused to accept all the tax money collected by Israel on its behalf.
By Jewish News Syndicate (JNS)
The decision was taken “in compliance with the leadership decision to stop all forms of coordination with Israel,” says Palestinian Authority spokesman Ibrahim Melhem.
Approximately half a billion shekels will be transferred.
Watch (and read) an important webinar titled Navigating Regulatory Changes, covering the latest “CARES” stimulus act as well as other relief initiatives and how they affect you, your business or organization.
Governments increase income with taxes; individuals need other ways to generate wealth. Doug discusses how to invest when markets hit rock bottom and investment strategies to achieve long-term goals.
Most buses in Israel run on diesel fuel.
By JNi.Media
“A billion here, a billion there, pretty soon it adds up to real money.”
By JNi.Media
As of Sunday morning there are no assessment hearings, and for several weeks no taxation abroad is being certified, no tax withholding on transactions in Israel, and 7,000 real estate transactions are delayed.
By JNi.Media
Based on the tax collection bonanza, it appears government could go on a mad spending spree, especially on security, and still end up with only a 2% of GNP deficit.
By JNi.Media
The committee also succeeded in repelling the Israeli tax authority, which wanted initially to be able to use information gathered by Israeli banks for the IRS.
By JNi.Media
Using the US' enormous economic clout, FATCA bullies the world's financial institutions into reporting on their American clients to Uncle Sam.
FATCA (Foreign Account Tax Compliance Act) restrictions are unfair to law-abiding U.S. expats. Did FATCA lower the value of U.S. citizenship?
By JNi.Media
“Hamas rockets have failed to eliminate our farms, but the state’s fines may do it,” say the farmers.
V15 is barred from attempting to achieve its stated goals: defeat Bibi and create a Palestinian State.
Israeli tax official surprised Lulav and Etrog street vendors around the country on Monday.
Britain's chief rabbi, Lord Sacks, is blaming British Prime Minister David Cameron for failing to do enough to boost marriages in the UK, and saying multiculturalism in Britain has "had its day," The Times reported. Rabbi Sacks said Cameron should recognize marriage in the tax system and do more to support stay at home mothers. […]
Teva, the world leader in generic medication will be soon be launching a generic version of Pfizer's Viagra in the UK and Europe. Pfizer's Viagra patents expired this past week in the UK and parts of Europe, allowing other manufacturers to move in. In the US, a court ruling has prevented Teva from introducing generic […]
Israeli VAT tax went up 1% to 18% on Saturday night. It's now at its highest level in a decade. The government expects the tax hike will raise an additional NIS 4.4 billion a year in revenue, assuming the economy stays strong. The price of gasoline also rose to NIS 7.52 for 95 octane. This […]
After repeatedly denying it was targeting conservative groups for unfair treatment, the IRS admitted it was treating politically conservative groups in inappropriate ways.
By JTA
Rep. Sander Levin (D-Mich.) preserved his top slot on the tax-writing Ways and Means Committee, as did Rep. Henry Waxman (D-Calif.) on the Energy Committee, after the caucus' standing committee announced its selections on Tuesday. Rep. Nita Lowey (D-N.Y.) ascended to the top slot on the Appropriations Committee and Rep. Eliot Engel (D-N.Y.) is now […]
According to a report on Israel Channel 10, Shelly Yechimovitch, the head of the Labor party, said that if she is appointed Minister of Finance, she would increase healthcare taxes, legislate an inheritance tax, and increase the corporate tax rate.
In 1648 and 1649 Bogdan Chmelnitzky and his hordes of Cossack warriors perpetrated an annihilation campaign against the Jews of Poland and the Ukraine. Almost 100,000 Jews and 300 communities perished at the hands of these murderous mobs. All of the Jews, including infants, were targeted for murder; the general populaces nearly always joined in […]
As a financial adviser I notice that certain money mistakes are very commonplace. Are you making these kinds of errors that can destroy a fortune? Instead of learning from your own mistakes, try learning from other people’s mistakes. Here is a list of some of the most common mistakes in financial planning.
Being forced to pay taxes does not make us more virtuous people. If it did, our founding fathers would have thanked George III for his coercion.
The Zionist Organization of America has lost its 501(c)3 tax exemption status, due to failure to file tax returns for the last three years.
Wealth transfer is a hot topic in financial planning. Thinking about how to pass funds from one generation to the next can be emotionally difficult. Perhaps the older generation doesn’t approve of the way the younger spends the money, or the younger generation isn’t involved in the family business. Furthermore, tax and legal issues can complicate matters.
U.S. taxpayers traveling to the United States with unpaid U.S. tax assessments can be detained at the border, questioned, and flagged for follow-up enforcement. If a taxpayer has an unpaid tax liability and is subject to a resulting Notice of Federal Tax Lien, the IRS may submit identifying taxpayer information to the Treasury Enforcement Communications System (TECS), a database maintained by the Department of Homeland Security (DHS).
Avraham and Moshe Tischler, 20-somethings brothers and ambitious political neophytes, recently met with The Jewish Press editorial board to discuss their current political plans and future prospects.
If you are already bored with the US presidential campaign rhetoric, do we have a debate for you!
Numerous Americans in Israel have received their $1000 tax credits per child. Now Uncle Sam wants to make sure you deserved to get it.
By JTA
Pelosi (D-Calif.) said that many Republicans "are using Israel as an excuse, what they really want are tax cuts for the wealthy."
There’s no such thing as a perfect investment.
A watershed moment took place in Brooklyn last month on primary night. Those who care about private school education should sit up and take notice.
A recent CNN Money article focused on how more students than ever are requesting need-based financial aid from the private schools they attend. “Private schools are getting flooded with financial aid applications, and a growing number of the parents seeking help are earning $150,000 or more a year,” the article stated. It also pointed out that “overall, the average cost of tuition at private schools across all grades is nearly $22,000 a year, up 4% from a year ago and 26% higher than it was in the 2006-07 academic year, according to the National Association of Independent Schools.”
By J. E. Dyer
We must not let our concept of the purpose and character of a tax be corrupted, precisely because taxing us is a power accorded Congress in the Constitution. The definition of “tax” is, in fact, the most important limit on what Congress can do with its power to tax. In the wake of the Obamacare ruling, defining “tax” is defending our liberty – or, from the opposite perspective, attacking it.
By J. E. Dyer
Understand this: it doesn’t matter if ObamaCare is repealed next year. Repeat as necessary until understood. The SCOTUS ruling is on the books. Congress can make you buy anything, as long as it fines you if you don’t. The concept of constitutional limits on the power of government has been effectively removed from our guiding idea of law and jurisprudence.
The price of gas was lowered overnight Sunday by 2.15%, making the maximum price of self-serve 95-octane gasoline 16 agorot per liter less - NIS 7.27.
By J. E. Dyer
This is what a tax now looks like? This is an open invitation to “tax” via whatever mandate sounds good to you. What sort of unequal-before-the-law mandate would not fit this definition of a tax? Congress can do anything it wants, by the logic of this decision, with the judicial precedent set that levying mandates equals using the power to tax.
By J. E. Dyer
For many people, especially younger ones, ideas about which government rules and “services” we can happily do without will be new and startling. But it is possible to slip the surly bonds of the Regulated Man construct and envision a better future. Wisconsin has taken an important step toward that future. Walker’s Wisconsin is what “Forward” looks like.
Top Palestinian negotiator Saeb Erekat says Arab nations will pay the Palestinian Authority $100 million a month if Israel stops monthly tax payments to the group in Judea, Samaria, and Gaza.
Israel will tax your U.S. municipal bonds, many of which are tax exempt.
The Organization for Economic Cooperation and Development (OECD) raised its 2012 economic growth estimate for Israel to 3.2 percent, up from its November estimate of 2.9 percent.
Austerity policies, which consist mainly of extra taxes, not only keep the European governments from finding long-term solutions to their overspending, while worsening the economic situation; they also make these government increasingly unpopular. Almost 40 years after Arthur Laffer drew his famous curve on a napkin, one wonders why European politicians keep closing their eyes to an evident truth instead of putting in place incentives for growth.
It was when Congressman Steve Rothman defended the rights of Former Libyan dictator Muammar Kaddafi’s personal envoy to live peacefully and tax-free next to me that I first thought of running against him. What was Rothman's purpose in defending the right of an envoy of a terror-sponsoring government to live in our midst?
In 1648 and 1649 Bogdan Chmelnitzky and his hordes of Cossack warriors perpetrated an annihilation campaign against the Jews of Poland and the Ukraine. Almost 100,000 Jews and 300 communities perished at the hands of these murderous mobs. All of the Jews, including infants, were targeted for murder; the general populaces nearly always joined in the attacks, and the torture and degradation of Jews was an integral aspect of the murderer’s procedures.
Like clockwork, the question of school vouchers makes a prominent appearance whenever the media focus on a statewide election in New York, particularly one in a heavily Orthodox district. The latest chime was sounded during the battle between Lew Fidler and David Storobin to fill an open state senate seat; both promised constituents that they would make the fight for vouchers and tax education credits their priority.
Is an Estate Tax in Israel in the works? 30 years ago they tried, but it never took off. Will the new socio-political atmosphere make it possible?
By Sam Ser
The most significant outcome of the understandings reached by the two sides was the granting of discounts on water tax rates, which have already risen sharply over the past year, and a freeze on planned changes to municipal tax rates that would primarily benefit large families but dig into the budgets of financially strapped towns.