Israel Tax Agency Issues Guidance on Large Cash Payments Restrictions

The Israeli Tax Authority Feb. 13 issued guidance on large cash payments restrictions to combat tax evasion. The guidance explains: 1) the two caps of 11,000 Israeli shekels (US$3,007) and 50,000 shekels (US$13,670) depending on transaction type and parties involved; 2) rules for public accountants, attorneys, and financial institutions; 3) rules for purchasers of real estate; and 4) the penalties regime, which takes effect Sept. 30. [Israel, Israel Tax Authority, 02/13/19]

Reference:
View Announcement. View Guidance in English.