Client Update | Tax Positions Reporting Obligations
The Israel Tax Authority (“ITA”) has published a list of tax positions, which require reporting, with regard to income tax, VAT and import taxes. As opposed to an income tax related position, which must be reported in the yearly tax return, in the case of VAT and import taxes (Customs, Purchase tax and VAT on […]
Client Update | “Innovation Visa” Program for Foreign Entrepreneurs
We would like to draw your attention to a new trial visa program for foreign entrepreneurs. This program will allow foreign entrepreneurs to receive work visas for the development and establishment of technological ventures in Israel. The program is being operated for an initial three year pilot period in which approved entrepreneurs will be able […]
Client Update | Labour & Employment | July 2017
The summer is already upon us and “cucumber season” is in full swing, but developments in the labour law and labour relations arena continue. In this update we bring you the latest developments, which are likely to affect a range of topics in labour relations and will require preliminary preparation. For the full update (in […]
Client Update | Technology & Regulation #44
We are pleased to introduce you to our July edition of the Technology & Regulation Client Update, which includes a variety of industry and regulatory developments in the fields of technology compliance, digital advertising, content and information privacy regulations. to read the full update – click here
Client Update | Antitrust & Competition Israeli Supreme Court Upholds Decision to Block Indirect Purchasers’ Class Action Against an International Cartel, but Warns That the Result Is Undesirable
This short update addresses a recent decision of the Israeli Supreme Court to uphold the decision of the Central/Lod District Court concerning service overseas of an antitrust class action filed by an indirect purchaser seeking damages under the Israeli Restrictive Trade Practices Law, 1988. In this case, the plaintiff argues that the international “LCD-Panels cartel” harmed Israeli consumers who […]
Client Update | The Capital Market Authority’s Regulatory Updates | August 2017
On August 2, 2017, the Capital Markets, Insurance and Savings Authority Capital Markets and Securities Department published a set of regulatory updates for the month of August 2017. To read the full client update (Hebrew) – click here.
Client Update | Cancellation of Assignment of Copyright
On August 7, 2017, in the matter of CF 47957-12-13, Dotan Israel v. Twist Animation Ltd. et al., the Tel Aviv District Court held that a fundamental breach of a copyright assignment contract entitled the assignor to rescind the contract, resulting in the return of the rights to the assignor. The Court also imposed statutory damages […]
Client Update | Cancellation of the Database Registration Fee and the Periodic Fees
On August 9, 2017, the Privacy Protection Regulations (Fees) (Cancellation), 2017 (the “Regulations”), were published in the Official Government Gazette (the “Gazette”). The Regulations cancel the Privacy Protection Regulations (Fees), 2000. Prior to the publication of the Regulations, each database owner was liable to pay a registration fee when registering a database, and in most cases, was […]
Client Update | Compensation for Service Inventions where a Collective Labor Arrangement Applies
On May 17, 2017, the Compensation and Royalties Committee under Section 134 of the Patent Law, 1967 (respectively, the “Law” and the “Committee”) held that a collective labor arrangement that deals, inter alia, with compensation for inventions in the course of employment constitutes an agreement between the employer and the employee for the purposes of […]
Client Update | Technology & Regulation #45
We are pleased to introduce you to our August edition of the Technology & Regulation Client Update. Although the pace of regulatory developments is relatively low during the summer period, the past month has seen a few important updates in the fields of technology compliance, digital advertising, content and information privacy regulations. to read the […]
Client Update | Israeli Corporate Tax-Reorganization Reform
On August 6, 2017, long-awaited legislation was finally published. This legislation relaxes many restrictive limitations previously imposed by the Israeli tax-free reorganization law (the “Reform”). The Reform expands the availability of corporate Israeli tax-free reorganizations, such as mergers, divisions, stock-for-stock exchanges, and other forms of intra-group asset transfers. To read the full client update- click here.
Client Update regarding the Registration and Licencing of chemicals – Schedule regarding European Legislation and impending Israeli Law
We would like to bring your attention to a number of key updates in the registration and licencing of chemicals in the European Union and in Israel. As the deadline for the registration of chemicals in the European Union approaches, alongside the draft that is being prepared for a designated law that will regulate the […]
Client Update | Knowledge Base in the Environmental Regulation Forum
At the beginning of this new year, we wish you a productive and fruitful year ahead. Our department would be happy/delighted to assist in all areas of environmental law and aspects of industrial production. To read the full client update (Hebrew) – click here.
Client Update | Key Innovations in Contaminated Land Policy
We would like to update you with a number of important updates recently published by the Ministry of Environmental Protection regarding its policy regarding the treatment of polluted land. To read the full client update (Hebrew) – click here.
Client Update | Technology & Regulation #46
The summertime is over and the recent months have witnessed a significant number of regulatory updates, industry policy developments, courts decisions and regulatory guidance. In this September edition of our Technology & Regulation Client Update, we have collected and summarized the most notable updates in the fields of technology compliance, digital advertising, content and information […]
Client Update | Supervision of Financial Services Regulations (Organised Financial Services) (Licence-exempt) (Temporary provisions), 2017 – Second Draft
Further to the licencing requirement of bodies providing credit services (which are not banks or financial institutions), which came into effect on the 1st of June 2017 and in light of the broad version of the definitions “granting credit” and “provision of service in a financial asset” in law, as defined within the law regarding […]
Client Update | Regulatory Updates from the Capital Markets Authority | October 2017
On the 1st of October 2017, the Capital Market, Insurance and Savings Authority published regulatory updates for October 2017. The following instructions and draft directives were published: Capital and Solvency Commissioner’s Position: Division of dividends by insurance companies Commissioner’s Position (draft): Reference to Stock Exchange clearing houses regarding capital requirements of the economic solvency regime […]
Client Update | New Private Tax Ruling Clarifies the Conditions for New Immigrants to Obtain an Israeli Residency Certificate
Under Israeli tax law, New Immigrants are entitled to various tax benefits, including an exemption from taxation with respect to non-Israeli sourced income. Due to these benefits, many taxpayers have argued that since they immigrated to Israel, they are entitled to Israeli tax residency certificate, even though they have not taken the required steps to […]
Client Update | Israeli Tax Authorities Introduce a New “Green Lane” For Transferring Funds Abroad For Investment Purposes Without Tax Withholding
Recently, the Israeli Tax Authorities (the “ITA”) published a press release introducing a new “Green Lane” which is intended to ease the process of funds transferring from Israel to non-Israeli recipients for investment purposes (the “Green Lane”). Under the new Green Lane, Israeli banks will allow the transfer of funds for investment purposes from Israel […]
Client Update | Amendments to Consumer Protection Law: Means of Cancelling Transactions; Change or Termination of the Consumer Benefits Plan
Two amendments were recently made to the Consumer Protection Law, 5741-1981 (the “Law”). On July 26th, 2017, Amendment No. 52 to the Law (“Amendment No. 52”) was published, which provides a general arrangement regarding means of cancelling a transaction and the disclosure obligations of a trader in this matter. For the full update – click here.
Client Update | Prohibition on Offering Securities-Trading Services
On July 6, 2017, Amendment 63 to the Securities Law, 5728-1968 (the “Amendment” and the “Law”, respectively), was enacted. This Amendment includes a prohibition on offering securities trading services with respect to a trading system that is not licensed in Israel. Under the new Section 49A to the Law, there is a prohibition on offering […]
Client Update | Herzog’s Technology & Regulation
We are pleased to introduce you to our October edition of the Technology & Regulation Client Update, which includes several important regulatory and industry developments in the fields of data privacy, technology compliance, content, digital advertising and information security regulations. These include the following: Updates to Google Play policies addressing quality requirements, user permissions, ads […]
Client Update | Antitrust & Competition | Major Competition Law Reform in Israel
Israeli Antitrust Authority has announced a Memorandum of Law to promote a major overhaul of Israeli competition laws. The Proposed Amendment aims at reducing regulatory burdens. It increases the turnover threshold for mergers, so that fewer mergers will have to be filed, and abolishes the reporting obligation for non-substantial changes in restrictive arrangements which received […]
Client Update | Update with regard to the Prohibition on Offering Securities-Trading Services (“Brokerage”)
On July 6, 2017, Section 49A of the Securities Law, 5728-1968, came into force, which concerns the prohibition of offering securities trading services through a securities trading system that is not managed by a stock exchange. However, alongside the prohibition, the Chairman of the Israeli Securities Authority (“ISA”) was authorized to grant a permit to […]
Client Update | Labour & Employment
Now that the holidays are over, we are returning to normal. This circular brings you three important updates in the Labour and Employment sector: Minimum wage increased to 5,300 NIS per month. Guidelines from the Privacy Authority of the Ministry of Justice with regard to the use of surveillance cameras in the workplace. Employee rights […]
Client Update | Proposed Amendment to Securities Rules (Cases where the publication of a Shelf Offering Report will require a permit from the Corporate & Securities Authority), 2016
On the 9th of November 2017, the Corporate and Securities Authority (“The Authority”) published a version on the proposed amendment to the Securities Regulations for public comment (cases in which publication of a Shelf Offering Report will require a permit from the Securities Authority), 5766 – 2016 (“the Amendment Proposal”). Until now, the Authority’s permit […]
Client Update | Regulatory Updates from the Capital Market, Insurance, and Savings Division of the Ministry of Finance | November 2017
Between the 5th – 13th November 2017, the Capital Market, Insurance, and Savings Division of the Ministry of Finance published regulatory updates for the month of November 2017. In addition, on the 30th of October 2017, the Ministry of Health published draft amendments to the Foreign Workers Order (health services available to employees). To read […]
Client Update | New Israeli Deemed Distribution Rules – Consider Action Before Year End
New Israeli Income Tax Ordinance section 3(i1), enacted on December 29, 2016 and effective January 1, 2017, states that a loan from an Israeli company which is granted to its 10 percent or more shareholders or to their related parties may be deemed to have been distributed to these shareholders. The deemed distribution takes place […]
Herzog Fox & Neeman Technology & Regulation November 2017
We are pleased to introduce you to our November edition of the Technology & Regulation Client Update, which includes several important regulatory and industry developments in the fields of data privacy, technology compliance, content and digital advertising. To read the full client update – click here.
Client Update | Assessments for the Replacement of the Custom Administration’s Foreign Trade Operation System of the State of Israel and the Implications for Import Processes
The Israeli Tax Authority (hereinafter: “the ITA”) is currently preparing to replace the Custom Administration’s foreign trade system of Israel with a new system called “Global Gate “. The new system is intended to replace the operational systems currently used by the Customs Administration and to serve all the parties involved in the foreign trade […]