The Israeli government has indicated it may soon propose a general reform of Israel’s international tax rules, having regard to OECD and other developments.
The answer lies in the CbC reports, which will soon but belatedly be required in Israel. CbC reports will give the ITA eyes to see around the world what activities a multinational group has.
Eyal Bar-Zvi of Herzog Fox & Neeman Law Offices explains why the burden of transfer pricing documentation will grow as taxpayers are required to submit further documentation, reports and data to comply with the new documentation requirements.