Israeli Taxand member firm Herzog, Fox & Neeman has provided an overview of discussions held by the Finance Committee of the Knesset (the Israeli Parliament), which concern potential amendments to the Israeli Tax Ordinance and the Israeli transfer pricing regulations pursued by the country’s Tax Authorities.
They conclude, that following a couple of years of discussions and arguments, the Finance Committee has confirmed, subject to 2nd and 3rd readings, amendments to the Regulations. The key focus of these amendments is in reference to Master File and CbCR requirements, which the Israeli authorities were under pressure to incorporate into law, in order to prevent the inclusion of Israel in the OECD’s “black list” of uncooperative tax havens.
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