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Israel - Overview and introduction
Israel - Overview and introduction
Taxation of international executives
Subsequent to a tax reform from 1 January 2003, tax has been imposed on a personal basis, such that every Israel resident will be charged a progressive tax on his/her worldwide income. Certain sources of income are subject to special tax rates and capital gains tax is payable on gains from the sale of certain assets.
A foreign resident is subject to tax on income produced or derived in Israel only.
The tax year for individuals is the calendar year.
The official currency of Israel is the New Israeli Shekel (NIS).
Herein, the host country refers to the country to which the employee is assigned. The home country refers to the country where the assignee lives when he/she is not on assignment.
© 2020 Somekh Chaikin, an Israel Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
