08 January 2016 Israel reduces tax rates starting 2016 The Israeli Parliament officially published the Law for the Amendment of the Israeli Tax Ordinance (Amendment 216) on January 5 that reduces the standard corporate income tax rate from 26.5% to 25%.The amendment entered into force on January 1, 2016 and the 25% corporate tax rate will apply to income that was generated from that day onwards. For companies that report in Israel based a non-calendar tax year, the reduced tax rate will apply to income generated after January 1, 2016 on a pro-rata basis. A Tax Alert prepared by Ernst & Young's Israel Tax Desk in New York, and attached below, provides additional details. Document ID: 2016-0043 |
