December 25

Foreign Residents’ Banking Activity

Foreign residents’ option to keep unreported funds in Israeli banks was revoked –

On 11.19.2014, the Supervisor of Banks issued a draft of instructions concerning foreign residents’ banking activities. The provisions shall apply to all corporations in Israel. Due to their importance, we have translated the draft.

August 1

Changes expected in the Israeli law on family businesses (in light of the new Law of Economy Arrangements)

Lior Pick, Advocate, CPA

We would like to update (the existing situation) with new information subsequent to the draft Economy Arrangement Bill that successfully passed second and third readings in Knesset and is expected to be finally discussed by the end of July. The Bill includes, among others, the revolutionary statements related to Supplement 64a to the Regulations on family business.