If you are working in the public sector, including government offices, hospitals, etc., you must have your Ph.D recognized by Misrad HaChinuch. In the public sector, recognition of your Ph.D will affect both your rank and salary. If you're working for a private organization or a post-doc, you will not need to have your degree recognized at all.
Academic: In order to pursue an advanced degree in Israel, you must submit your foreign degree to the Israeli university you wish to attend. Your degree will be evaluated. The universities have full academic freedom in this matter and are not subject to Misrad Hachinuch’s criteria.