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Israel: Updated VAT amounts for invoicing, periodic reporting, and penalties

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Israeli Tax Authority amended the VAT amounts for invoicing, periodic reporting, and penalties starting from July.
 

The following have been updated: 

 

  • threshold of the NIS 321 for requesting an invoice from a seller; 
  • the obligation to submit to the bank periodic reports for input tax excess of less than NIS 19,222; 
  • a fine of NIS 223 for each two weeks late submission of relevant reports; and 
  • A minimum penalty of NIS 334 for poor recordkeeping.
     

 

 

Source: gov. il    

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