Israel: Tax Authority Published New Voluntary Disclosure Procedure – Probably Last Chance
On December 12, 2017, the Israeli Tax Authority published a New Voluntary Disclosure Procedure, which will be in force for 2 years (2018-2019). The procedure provides for three different routes: Regular Route, Anonymous Route (in effect for only one year) and Shortened Route.
It seems that this newly published Voluntary Disclosure Procedure gives the taxpayer a last chance to come forward and declare his/her income and assets, before the expected automatic exchange of information (“CRS”) will be implemented.
