Israel to Require New Repatriates and Returning Israelis to Provide Tax Declarations

Israel’s Ministry of Finance is advancing a bill to repeal the “Milchen Law,” which granted tax exemption to repatriates and returning Israelis for reporting taxes outside of Israel for up to 10 years.

The new law will also grant tax inspectors the right to request declarations from foreign companies owned by new repatriates.

According to Israel’s Ministry of Finance, the OECD threatens to include Israel on the list of countries with an “opaque tax regime” if the “Milchen Law” is not repealed.

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