Taxes in Israel & Overseas

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    Oleh Guide to U.S. Tax Compliance

    Guest Contributor: Jo Anne C. Adlerstein Disclaimer: This article was written by a guest contributor and NBN takes no responsibility for the information listed therein. Please consult with experienced tax advisors and lawyers regarding the specifics of your situation. Introduction Countries provide services to their citizens and residents.  They pay for the services by collecting […]

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    The New Tax Law – 2013

    This article was co-written by Simon Seitz, Adv. and Binyamin Radomsky, CPA. The recent approval of the Economics Arrangements Bill 2013 (i.e. the budget) has seen a number of significant changes to the taxation on the purchase and sale of land and property in Israel. The aim of this article is to summarise and make […]

  • Tax Rates

    Please Note: If you have more than one source of income, you will need to clarify the amount of taxes you are required to pay by submitting a Tium Mas. You can now fill out a Tium Mas form online, or you can fill out the printed form at your local Mas Hachnasa Office (Department […]

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    Taxation of Telecommuters

    Guest Contributor: Leon Harris, The Jerusalem Post Telecommuters are people who live and work in Israel for a company based abroad that is not registered in Israel. This is now easy thanks to e-mail, the Internet and cheap videoconferencing. But there can be a number of tax implications for the individual and the company, in […]

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    Who Must File a Tax Return in Israel

    Guest Contributor: Leon Harris Disclaimer: This article was written by a guest contributor and NBN takes no responsibility for the information listed therein. Please consult with experienced tax advisors and lawyers regarding the specifics of your situation.  The rules are complex. In principle, Israeli resident individuals over 18 must file a tax return unless they […]

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    U.S. Income Tax and FBAR Obligations of U.S. Olim

    Whether you are required to file any IRS returns or FBARs depends on your personal circumstances. This article is included on the NBN website to make sure that you know your obligations. It’s important to be aware that you may be pursued in Israel by IRS for taxes, interest, and penalties which could have been minimized or avoided if you considered whether you were obliged to make filings.

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    Tax Refunds in Israel

    Thanks to Uri Sher for contributing this article.  Many olim are familiar with receiving income tax refunds in their old countries. Does the same apply in Israel? In Israel, individuals are able to receive two types of refunds: 1. Refunds of Income Tax Actually Paid In general, individuals only begin to pay income tax if they […]

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    Tax Reform: Implications for Real Estate Transactions

    Thanks to Avigail Slonim Rothner, Adv. & Notary for contributing this article. Note from June 22, 2015 :  Despite the fact that it was decided initially  that the following  change in purchase tax rates on apartments/houses purchased  for investment will be raised on the 1st of July 2015, it was announced today that the rates […]

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    Changes on how Trusts will be Taxed in Israel

    Until the recent changes to Israeli tax law, there was no better financial friend to someone moving to Israel than a trust.  Not just any trust – a trust that was deemed a “foreign settler trust” for Israeli tax purposes.  The objective of a foreign settler trust for olim was to situate the trust in a […]

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    Taxation of Trusts: 10 Highlights of Trust Taxation in Israel

    Guest Contributor: Jeff Broide, CPA Foreign-settled trusts are subject to taxes in Israel unless there are no Israel-resident beneficiaries. The tax status of the settlor/grantor and/or the beneficiaries determines the residence of the trust.  A settlor/grantor includes any person or entity which transfers assets to the trust.  There may be more than one settlor/grantor. Control […]

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    Foreign Gifts – A Possible Undesirable Tax Event

    When Olim (or other Israeli residents) receive financial gifts or inheritance bequests from family members living abroad, it is usually expected that any tax associated with the gift will be paid by the grantor and not by the beneficiary. However, this may not be the case. According to Section 89 of the Israeli Income Tax […]

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    Will the Israeli Tax Authority Receive Your Inheritance?

    The following article, written by Leon Harris, appeared in the Jerusalem Post on February 9, 2010. The full text of the article appears online at:    Can 80% tax on inheritances be avoided? Can zero Israeli tax be achieved without a ruling?     Readers of this column reacted in very large numbers to an article about […]