Voluntary Disclosure Program in Israel extended to June 30, 2016

On September 6, the Israeli tax authorities have announced an extension of the current special Temporary Voluntary Disclosure Procedure. The expiration date, which was originally scheduled to be September 7, 2015, has been extended and is now scheduled to be June 30, 2016. As a result of this extension, the taxpayer, who have not yet disclosed foreign income and assets, can still submit applications for a voluntary disclosure under the anonymous route as well as the fast track route introduced on September 7, 2014.

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