11 February 2019

The CRS policy

The Israeli Tax Authority is about to share financial information as part of the CRS policy.

The CRS policy


On February 6, 2019, The Israeli Tax Authority announced and published the list of countries 

of which according to the CRS plan of action are about to receive the financial information.

This financial information is about to be shared with these countries Tax Authorities, will 

include retroactive information from 2017 onwards.


The Tax Authorities plan is to share the information in three steps:

First step:

All the information from the year 2017, will be provided- before June 23, 2019.

Second step:

The information from the year 2018, will be provided until September 2019.

Third step:

All the information that is valid and relevant to the countries, which signed the 

multilateral agreement and therefore committed to the CRS policy.

 

Among the countries, you will find The United Kingdom, Belgium, French, Luxemburg, 

Malta, China, South Africa; including most of the European, American and Asian countries.

 

Do I have a reason to be worried?

Anyone who possess bank accounts in The Bank of Israel they "forgot to report" on their existence

to the foreign Tax Authorities. 

Israel will share the same information with the other countries, so Israeli residents who are invested 

or have business activities of any kind in foreign banks around the world in these countries signed the 

multilateral agreement and committed to the CRS policy.

 

What can we do?

You better contact our experts and get yourself covered, so there will be no issues discovered later on. 

Solving your taxation issues within Israel and outside of it at once, in the best and most efficient way.

Auren Israel has the experience needed to resolve your issues. Auren Israel is the Israeli office of the 

international firm Auren and part of an international strong and widespread professional network of 

associates, in more than 250 offices.

Let us take care of your issues and find the best solution globally to close the corner and be sure you 

are on the safe side opposite these countries that are part of the agreement.

 

To review the full list of countries - Click here

 

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