Tax chief: Israel won't be a tax haven

CPI up 0.5% in October as housing prices fall

Moshe Asher: The Tax Authority plans to provide information to relevant countries about foreign residents' capital in Israel.

"We won't be a tax haven for foreign residents," said Israel Tax Authority director general Moshe Asher at the conference of the CPA Association of Jerusalem conference today. He said that the Tax Authority planned to provide information to relevant countries about foreign residents' capital in Israel, and that these countries will reciprocate about the foreign assets of Israelis.

Asher said that foreign banks already provide information about Israeli citizens, under an expedited procedure at the Ministry of Justice. He advised relevant parties to voluntarily disclose information.

Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2013