Personal Tax in Israel
Accounting (0) , Consumption/VAT/Sales Tax (0) , Corporate Tax (1) , International Tax Treaties (1) , Personal Tax (1)
Overview by Globlatrade.net:
- Tax Base For Residents and Non-Residents
- Israeli residents have to pay personal income tax, social security tax and capital gains tax on a universal basis. The non-residents are taxed on incomes received in Israel.
|The rate is spread over 5 sections.:
Tax schedule, monthly returns in shekels.
|Progressive rates from 10% to a maximum of 44% in 2010.|
|From ILS 1 to 55,080||10%|
|From ILS 55,081 to 97,920||21%|
|From ILS 97,921 to 147,000||29%|
|From ILS 147,001 to 211,200||35%|
|From ILS 211,201 to 454,680||36%|
|More than ILS 454,680||45%|
- Allowable Deductions and Tax Credit
- Tax deductions are granted to residents of priority areas and far from the center of the country.
- Special Expatriate Tax Regime
- Certain expatriates are subjected to a special system with a maximum rate of 25%, other follow the normal system. Foreign residents are exempted from taxes on capital gains resulting from share investments in the Tel-Aviv Stock Exchange.
- Capital Tax Rate
- Local taxes are imposed on property. There is no wealth or estate tax in Israel.
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