Real estate investments in Germany – A Tax Perspective
The German real estate market is still considered an attractive investment area in Europe – for Israeli investors – due to the size of the market and economic stability in the country.
The German real estate market is still considered an attractive investment area in Europe – for Israeli investors – due to the size of the market and economic stability in the country.
Israeli residents relocate abroad for a variety of reasons. Lately foreign or multinational companies want to relocate their Israeli employees to the US, so that they can provide services, know-how or give instruction or explanation for the use of devices directly to their worldwide customers.
The global fight against tax evasion became in the wake of the financial and debt crisis an important and widely pursued concern of the world community. There is a growing demand for more intergovernmental exchange of information in tax matters and more tax transparency as an important tool to combat tax fraud and tax evasion.
The German Fiscal Code provides for the possibility of a voluntary self-disclosure of tax evasion. Taxpayers are able to correct or complete their own incorrect tax returns. In such cases, if certain conditions have been met, the taxpayer will be exempt from criminal prosecution for tax evasion in respect for the previous incomplete or incorrect particulars.
On September 7, 2014 in continuance with the Israeli Government’s policy to fight “black” money and to increase the collection of taxes in Israel, the Israeli Tax Authority (hereinafter: ITA) published a New Voluntary Disclosure Procedure that allows a taxpayer to report his/her non-reported income to the tax authority with the possibility to be exempt from criminal proceedings for not reporting.
On August 21 2014 the Finance Minister of Israel, Yair Lapid, signed with his German counterpart, Wolfgang Schäuble, a new tax treaty for the avoidance of double taxation.
בהמשך למדיניות הממשלה למלחמה בהון השחור והגדלת גביית המס, פרסמה רשות
המסים לפני שבוע את הנוהל החדש לגילוי מרצון, שמטרתו לעודד ולאפשר לנישומים לדיווח
על הכנסותיהם ללא הביטים פליליים.
Die Knesset hat ein Gesetz zur Förderung des Wettbewerbs und zur Einschränkung wirtschaftlicher Konzentrationen verabschiedet. Die beabsichtigte Entflechtung der israelischen Wirtschaft lässt erwarten, dass in den nächsten Jahren zahlreiche Unternehmen zum Verkauf stehen. Die ersten Meldungen, wie einzelne Konzerne die Vorgaben umsetzen wollen, liegen vor.