September 21, 2015

As we had mentioned on September 6, 2015, the two temporary provisions of the Israeli Voluntary Disclosure Programs (the Anonymous Track and the Fast Track) that were supposed to end on September 6, 2015, had been extended for an unknown period. Today, the ITA announced that the new deadline for submissions under these provisions is June 30, 2016.

In addition, the ITA has backtracked on its original decision to deny any voluntary disclosure requests that do not include significant amount of tax owed (which in practice was any amount under 50,000 NIS ). Therefore, at the moment and until the deadline of June 30, 2016, the ITA will approach in writing any tax payer that was denied participation in the voluntary disclosure program on the basis of insignificant tax owed, with the option to reapply.