Update to Disclosure Reporting of Israeli Tax Payors Party to International Transactions with Relate
On July 3rd 2019 the Israeli Tax Authority ("ITA") published on their website an updated copy of declaration Form 1385 concerning international transactions conducted between related parties that is to be attached to relevant annual tax return filings as an annex. The updated Form 1385 is relevant for all filings beginning from FY2018.
A copy of the updated Form 1385 can be found at the following link:
Further, the ITA published a notice stating that it will also allow tax payers to report on the old Form 1385 for tax filings concerning international related party transactions for tax year 2018. Thus, for the annual reports for fiscal year 2018, either form may be selected.
In contrast, for international related party transactions from tax year 2019 on subsequent years, reporting will only be done on the updated form.
ITA Notice:
Previous Form 1385 link:
