Tax News Around the World: Israel

In important tax news for many residents of Israel, the Israel Tax Authority with Gidi Bar Zakai created some new regulations recently. In July of 2011 they repealed the exemption from certain capital gains for foreign residents. This repeal applies to capital gains that came from state loans with a date of maturity that doesn’t exceed one year for mutual funds and future transactions.

The new regulations went into effect on July 7th of that year, according to details from Deputy Director Gidi Bar Zakai and the Tax Authority.