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Israel: Extensions of tax-related deadlines (COVID-19)
Israel: Extensions of tax-related deadlines (COVID-19)
The Israeli government on 27 March 2020 published Temporary Regulations #8432 to provide tax-relief measures related to the coronavirus (COVID-19) pandemic.
The regulations provide extensions of time for certain tax-related deadlines. Specifically, the period 22 March 2020 – 31 May 2020 is not considered to be “calendar days” for purposes of determining tax-related deadlines and certain terms established under the Israeli tax laws. In particular, the regulations extend the:
Concerning dates provided by the income tax law:
- Deadlines for the tax authorities to answer a taxpayer request for an advance pricing agreement
- Deadlines for distribution of stock options to employees after approval
- Deadlines for submission of notification of certain qualified tax-neutral reorganizations
- Certain deadlines for collection of tax debts
- Deadlines for auditing tax returns
- Deadlines for taxpayers to appeal the tax authorities decisions
Concerning dates provided by the value added tax (VAT) law:
- Deadlines for auditing tax returns
- Deadlines for taxpayers to appeal certain types of tax authorities’ decisions
Concerning dates in the real estate tax law:
- Deadlines for issuance of a written decision by the tax authorities
- Deadlines for various notifications that need to be submitted to the tax authorities—in particular, notifications of selling an apartment
- Deadlines for the tax authorities to confirm or contest the value used in a transaction and for the taxpayer to appeal this determination
Concerning dates in the law for encouraging investments:
- Deadlines for applying for the "election year" for start of the benefits
- Deadlines for applying for advance approvals
The regulations also address deadlines in other “minor” or grandfathered tax laws. Regarding other tax-related measures, the regulations extend the:
- Deadline for filing annual corporate income tax reports—the due date of 31 May is postponed to 31 July 2020 (further extensions are available upon request), and the same deadlines apply for individual income tax reports submitted electronically.
- Deadline for filing paper individual income tax reports—the due date of 30 April is postponed to 30 June 2020 (further extensions are available upon request).
- Deadline for monthly VAT reporting and payment—the due date of 16 March is postponed to 26 March 2020.
- Deadline for bi-monthly VAT reporting and payment—the due date was postponed from 15 April to 27 April 2020.
- Deadline for renewing annual withholding tax certificates—the due date is postponed from 31 March to 30 April 2020.
The VAT authorities will allow an input VAT deduction to be claimed with the submission of a scanned copy of a tax invoice issued in the period between 1 March 2020 and 31 May 2020 (normally a signed paper original or a digital copy with electronic signature is required).
Entrepreneurs affected by the COVID-19 situation may apply for decrease of social security advance payments. For self-employed individuals, the deadline for the March 2020 social security payments is postponed from 15 April 2020 to 15 May 2020.
For more information, contact a KPMG tax professional in Israel:
Asaf Leshem | aleshem@kpmg.com
Yaniv Yesharim | yyesharim@kpmg.com
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.
