JANUARY 2010 | Natalie Jacobs, Perry Wildes

Hodak Committee Publishes Interim Report...Increasing Companies׳ Internal Controls and Enhancing Disclosure Requirements...Israeli Patent Commissioner Announces New Classification and Priority Treatment for ״Green״ Patent Applications...New Policy Regarding Participation in Arbitration Procedures in which the State of Israel is One of the Parties...Tax Law Updates... A Company׳s Failure to Transfer Social-Benefits Deductions from the Employee׳s Paycheck to Their Designated Purpose Serves as a Sufficient Reason for Piercing the Corporate Veil

JANUARY 2010 | Ofer Rachmany

In contrary to the world "trend" to combat hidden bank accounts and tax-havens entities, a contradicting policy may be viewed in Israel, which recently amended its tax laws. Currently, Israel provides New Immigrants and Returning Residents with extreme tax benefits, including a 10-year tax exemption on foreign sourced income and gains, as well as no reporting requirements on such income or gains.

JULY 2009 | Natalie Jacobs, Perry Wildes

TAX LAW UPDATES...LITIGATION UPDATES...LABOR LAW UPDATES...

FEBRUARY 2009

The Israeli Income Tax Ordinance was amended as of January 1, 2009 (the "Amendment") to introduce, among other things, tax exemptions designed to stimulate and encourage foreign investments in Israel.

FEBRUARY 2009 | Renana Dolev Harel

A new amendment to the Israeli Communications Law prohibits the sending of commercial material by electronic means, such as emails, faxes, automated telephone systems and cellular text messages (SMS), unless a prior consent is provided by the addressee of such material.