Merger of firms
Please see the details of our new address and contact details on the “Contact Us” page
Arrears of Annual Fees payable to the Registrar of Companies
The Registrar of Companies has recently issued an advisory regarding non-payment of the annual fee.
Detailed VAT filing
The Tax authorities have recently sent out letters to approximately 80,000 businesses, financial institutions and not-for-profit organisations employing at least 300 employees regarding the compulsory on-line detailed VAT filing, effective 1 January 2011.
The following businesses will be required to join the scheme, even if they have not received letters (which have been sent out on the basis of estimates only – non-receipt of a letter is not an excuse for non-compliance):
- Businesses required by law to use a double-entry bookkeeping system (from a VAT perspective) whose 2010 turnover exceeds NIS 100,000
- Businesses using a single-entry bookkeeping system (from a VAT perspective) whose 2010 turnover exceeds NIS 4,000,000
The VAT reports will need to be filed electronically (full details on the website of the tax authorities). It is therefore imperative to ensure that the bookkeeping programme has the capability of producing the required report, and in the correct format. It will also be necessary to purchase a smart card that will enable to report to be filed with an electronic signature.
For support, call the helpline on *4954 or 02-5656400, or via email to email@example.com.
Please call our office for assistance as necessary.
Taxation of UK pensions in Israel
On 10 August 2010, the tax authorities issued an advisory regarding the taxation of UK pensions in Israel.
New website for Israeli Amutot
There is a new website containing information regarding all Amutot. It is worthwhile for members of Amutot to update their details.
The address is: http://www.guidestar.org.il/Default.aspx
Exemption from electronic filing of individual tax returns
On 24 June 2010, the tax authorities ruled that an exemption for electronic filing of individuals tax returns applies to the following:
(1) A couple whose taxable income is less than NIS 150,000 (for a single: NIS 75,000) and where the individual income from business, employement or farming is less than NIS 75,000; OR
(2) Both of the couple have reached retirement age.
Delayed requirement of online VAT filing
On 6 May 2010, the tax authorities delayed the requirement of online VAT filing for Financial Institutions and not-for-profit organisations employing more than 600 employees, as well as businesses whose turnover exceeds NIS 1 million and are also required to have double-entry bookkeeping. The revised start date is 1 January 2011.
We are rapidly approaching the end of the current tax year and, as has become the custom, we set down in the attached sheets the details of tax deductions and credits for 2009 as well as information needed to prepare your tax return.
To ensure that we can deal with your tax return in good time, please try to bring in your papers as soon as you have all the annual certificates.