Israel MOF Announces Tax Reform With Benefits for New Immigrants, Returning Residents

The Israeli Ministry of Finance Nov. 6 announced that new tax reform will be approved to provide tax benefits for new immigrants and returning residents who immigrate to Israel in 2026. The announcement includes that: 1) the benefits will apply up to an annual income ceiling of 1 million Israeli shekels (US$306,719), with individual income tax rates of up to zero percent for 2026 and 2027, up to 10 percent for 2028, up to 20 percent for 2029, and up to 30 percent for 2030; and 2) new immigrants and returning residents will be permitted to continue using existing benefits, ...