No longer anywhere for new Olim to Israel to hide their offshore wealth

Israel has recently passed sweeping amendments to its 10 year tax holiday for new immigrants and returning residents. The days of secrecy are over.

No longer anywhere for new Olim to hide offshore wealth from the Israeli tax authority

Going forward new olim to Israel will need to report to the Israeli Tax Authority (ITA) on their foreign income and offshore wealth. Foreign companies and offshore trusts are now under the microscope. The Intltax team has unpacked the implications for South Africans looking to make aliyah:

https://www.sajr.co.za/israel-increases-scrutiny-of-offshore-assets-of-olim/