Real estate properties in Israel: New Temporary provisions offer an exemption from real estate transfer tax
Real estate properties in Israel: New Temporary provisions offer an exemption from real estate transfer tax as part of a company’s liquidation as well as partial liquidation A new temporary provision enacted on 31 December 2024, offers a significant tax relief opportunity for the liquidation of ‘closely held companies’ during 2025. Under these provisions […]
Reform “What is Good for Europe is Good for Israel”
Dear Clients and Colleagues, Today, January 1, 2025, the “What is good for Europe is good for Israel” reform comes into effect. This is a comprehensive and significant reform in the field of imports, covering four different sectors: standards, food, cosmetics, and energy efficiency in electrical products (the main part of the reform in […]
Our New Labour Law Department Head
This year, Herzog lost Orly Gerbi, may she rest in peace, a beloved figure and founder of its Labour Law Department. Orly left a great void in the Labour Law Department and in all our hearts. The firm’s management has decided to appoint Adv. Moria Tam-Harshoshanim as Head of the Labour Law Department. Moria began her journey at […]
New Partners for the New Year!
We are proud and excited to introduce Herzog’s newest partners, who represent the forefront of our firm’s outstanding legal team. We are confident that these exceptionally talented professionals, most of whom have grown within our own ranks, will continue driving our success, achieving new milestones, and fostering further growth. We trust each of you wholeheartedly […]
Strategizing for Success: Navigating Exits in Unpredictable Business Landscapes
As business landscapes evolve unpredictably in Israel and worldwide, it has become increasingly essential to strategize effectively for a successful exit. Tuesday, 21 January 2025, 09:30-12:30 IST Herzog, 6 Yitzhak Sadeh St, Tel-Aviv, Israel ♦ 09:30 Registration and Networking ♦ 10:00 Opening Remarks Ran Hai Co-Head, Corporate and Securities, Herzog ♦ 10:10 M&A Panel […]
Taxation of Undistributed Profits and Personal Service Companies
Dear Clients, Friends, and Colleagues, Further to extensive discussions during recent weeks, the Finance Committee of the Knesset (the Israeli Parliament) approved a new Bill which imposes a new regime for the taxation of undistributed profits and Personal Service Companies (hereinafter referred to as “the Bill“).[1] The Bill is now pending the final approval of […]
EDPB Adopted Opinion on Personal Data in Developing and Deploying AI Models
Last week, the European Data Protection Board (“EDPB“) has adopted an opinion on the use of personal data for the development and deployment of AI models. The opinion, which was requested by the Irish Data Protection Authority, looks at three issues related to privacy and AI: When and how AI models can be considered anonymous; […]
Herzog’s Comparative Guide on Key Rights in US States Privacy Laws – December 2024
The legal landscape surrounding data protection in the United States has undergone significant changes over the past couple of years. While various attempts to legislate a comprehensive federal privacy law have not succeeded, more and more US states have moved forward with adopting their own comprehensive privacy laws. To date, 19 states have enacted comprehensive […]
Publication of a Staff Legal Position Regarding Trust Activities
We would like to bring to your attention that on December 9, 2024, the Israeli Securities Authority (the “Authority“) published a staff legal position regarding the applicability of the Payment Services and Payment Initiation Law, 2023 (the “Law” and the “Staff Position” respectively) to trust activities. The purpose of the Staff Position is to outline […]
The UK Online Safety Act – Ofcom Releases First Set of Regulatory Guidelines
The UK Online Safety Act (“Act“) has entered its implementation phase. On 16 December 2024, Ofcom, the UK communications regulator, published its first major policy statement and accompanying regulatory guidelines, which focus on safeguarding individuals from illegal online harms. The statement outlines notable developments for in-scope online service providers, including user-to-user and search services (“Providers“). […]
Rising to new heights – navigating the air mobility landscape
We invite you to join us on January 15, 2025, for an event led by Mobilion Ventures, Earth & Beyond Ventures , Deloitte Catalyst, and Herzog, where we will dive into the future of air mobility. This event will explore investment trends, market opportunities, and cutting-edge technologies in the industrial, logistics, and defense sectors. In collaboration with NVIDIA Inception Program, EcoMotion Community, and […]
VAT Updates for 2025 – VAT rate increase, Israel Invoices Reform, and the Economic Plan Bill
Dear Clients and Friends, We would like to bring to your attention the latest updates in the field of value-added tax that will come into effect on January 1, 2025. Increase in the VAT rate to 18% As of January 1, 2025, the VAT rate in Israel will increase by one percentage, from 17% […]
Key Insights from new ISA position on Collective Investment Schemes: What You Need to Know
On November 18, 2024, the Israeli Securities Authority (“ISA”) published a circular on the offering of collective investment schemes (the “ Circular“). The Circular presents several new insights on how the ISA interprets and applies the Joint Investment in Trust Law, 1994 (“Mutual Funds Law“) and the Regulation of Investment Advice, Investment Marketing, and Portfolio […]
Israeli Employment Law – Did You Know? End of Year Employer ‘To-Do’ Check List
We are pleased to present you with our last quarterly update for 2024. Once again, we present you with our End of Year Employer ‘To-Do’ Check List. Obviously, the following checklist cannot cover all the important tasks which employers face at the end of the year, but we detail herein some of the most pertinent […]
Publication of Legal Staff Position on Reseller Model Activities; and Publication of Reporting Directive for Payment Companies
We would like to bring to your attention that on November 25, 2024, the Israel Securities Authority (the “Authority”) published a legal staff position regarding activities in the Reseller business model that do not require a license under the Payment Services and Payment Initiation Law, 2023 (the “Law” and the “Staff Position,” respectively). Additionally, on […]
Compensation Scheme for Businesses in Northern Localities (September-October 2024)
On November 25, 2024, the Israeli Parliament (Knesset) Finance Committee approved the Property Tax Regulations (Damages Payments) (War Damages and Indirect Damages) (Iron Swords) (Temporary Order) for September-October 2024. These regulations provide compensation to businesses in northern localities through three alternative routes: (1) Turnover Route; (2) Salary Expenses Route; and (3) Red Route. Key Details […]
Proposed Legislation on Digital Assets
Dear Clients, Colleagues and Friends, The Ministry of Finance has recently published a memorandum of law (the “Memorandum”) for the amendment of the Israeli Income Tax Ordinance (the “Ordinance”) aimed at clarifying the taxation of “digital assets”. Digital assets include various types of tokens, such as cryptocurrencies like Bitcoin, which can be used for […]
The AML Order for Payment Companies and a Draft Directive Regarding Online Identification Technology
Dear clients and colleagues, On November 5, 2024, the Prohibition of Money Laundering (Identification, Reporting and Recordkeeping Duties of Payment Companies for the Prevention of Money Laundering and Terror Financing) Order, 2024 (“the AML Order”) was published in Israel’s official Gazette. The AML Order imposes designated anti-money laundering obligations on payment companies, following the addition of […]
New price tag on “gun jumping” offences
Dear Clients and Colleagues, On October 29 2024, the Israeli Competition Commissioner (the “Commissioner“) issued a decision (the “Decision“) to impose an unprecedented financial penalty on Strauss Group Ltd. (“Strauss“) at the maximum allowable rate. Strauss was fined approximately NIS 111 million (approx. USD 30 million), and Meshek Weiler Ltd. (“Weiler“) was fined around […]
Employment Agreements in Israel: must, recommended or nice to have
Employment Agreements in Israel: must, recommended or nice to have Register
The Israeli DefenseTech Innovation Day
The Israeli DefenseTech Innovation Day, led by 10D & Herzog, sponsored by NightDragon, is designed to bring together founders, innovators, and key industry leaders within the Defense sector for a day of networking, knowledge-sharing, and discussions about the challenges and opportunities in this evolving landscape. Register
FemTech: What’s in It for Us?
WOMEN IN TECH ISRAEL SUMMIT 2024 FemTech: What’s in It for Us? Let’s talk about the $117 Billion Opportunity Register
webinar – October 7 + 365
webinar October 7 + 365: A Legal Retrospective and Future Outlook As we mark one year since the October 7 Black Sabbath, we invite you to join us for a special webinar to reflect on the past year and discuss how to face the challenges ahead. Register
Fintech Regulatory Updates
By Ariel Yosefi, Eden Lang, Dima Zalyalyeyev, Yonatan Glatt and Gal Mechtinger. Dear clients and friends, We are pleased to highlight below some key regulatory developments and events from the recent months, affecting various sectors in the fintech industry, including crypto, online trading and derivatives, payments and financial services. Our fintech and crypto team […]
Defense Tech in Times of War
Join us in exploring growth opportunities in Defense Tech and shape the future with essential regulatory strategies. Don’t miss out — Register Now!
The US Tightens Regulatory Requirements on Recurring Payments Programs
The Federal Trade Commission (“FTC“) recently announced final amendments to its trade rule, titled the “Rule Concerning Recurring Subscriptions and Other Negative Option Programs“, commonly referred to as the “Click-to-Cancel” rule. The FTC introduced the new rule as part of an ongoing effort to modernize consumer protection practices around recurring payment programs in a transparent […]
New Israeli Court Ruling Rejects Tax Authority’s Attempt to Tax Dividend Distribution Between Two Israeli Companies
Dear Clients, Colleagues, and Friends, New Court Decision Addresses Key Tax Aspects of Dividend Distribution The Tel Aviv District Court recently issued a ruling on a tax appeal filed by Oz Technologies (1972) Ltd. (the “Taxpayer“). The case concerns a notice of deficiency issued by the Israel Tax Authority (the “ITA“), asserting that a […]
Australian Jewish News – Ben Pask
“[B]ut given the nature of the firm, there are a lot of native English-speakers (including other Australians), which makes it the best place for me professionally as a corporate lawyer.” Ben Pask, a lawyer in our Corporate & Securities team who was promoted to partner earlier this year, was quoted in Bruce Hill’s piece in […]
Payoneer will be moving to its new offices in Glilot
Congratulations to our clients Payoneer on finalizing a lease agreement to move their Israel office to the 44-story Allied-BIG Tower in Glilot, Ramat HaSharon, where they will occupy a 12,000 square-meter space spanning floors 17-22 and up to 400 parking spaces. According to specialists, the estimated annual value of the transaction (including tenant improvements and […]
Silexion Therapeutics Corp Welcome to NASDAQ!
Congratulations to our client, Silexion Therapeutics Ltd., a clinical-stage, oncology-focused biotechnology company, for closing a business combination with Moringa Acquisition Corp, a publicly-traded special purpose acquisition company (SPAC). The shares of the combined company – Silexion Therapeutics Corp – began trading on Nasdaq under the ticker “SLXN”. Herzog team was led by Ory Nacht and […]
