Court rulings limit immigrant tax breaks
Court rulings limit immigrant tax breaks The Supreme Court has upheld the Israel Tax Authority's narrow approach to exemptions for New Israeli Residents. Two new court rulings published in Israel in December 2020 cast some light on the interpretation of the tax benefits provided to New Residents (i.e. returning residents to Israel after more than 10 consecutive years of being foreign residents, those who lived abroad for 5 years and returned to Israel between 2007 and 2009, and new immigrants from 1 January 2007). Israeli tax residents are taxed in Israel on their worldwide income (subject to...
Source: globes.co.il