The World Tax Advisor - July/August 2005 (Recent Developments in the Middle East)

This article discusses international tax developments and has been prepared by professionals in the member firms of Deloitte Touche Tohmatsu.

A joint committee set up by the State Revenue Administration and the tax authorities recently issued its recommendations for a multi-year program that would continue the tax reform that began in 2003. A bill embodying the proposals was introduced in the Israeli Parliament on 4 July and passed in its first reading on 11 July. The proposal was then forwarded for discussion to the finance committee for possible changes. Once passed, the proposed measures are expected to go into effect on 1 January 2006. The discussion below reflects the joint committee's (Committee's) recommendations.