Sort by

Articles 20 found

December 30, 2019
So what are my options
Business, Corporate and Joint Ventures
So you succeeded in realizing “the Israeli dream” – you were hired by a high-tech company and are on the right path to “big money”. You arrive at your first day at work and received the standard new employee set of documents, including a “standard” employment contract, which also notes that you are entitled to […]
May 20, 2019
The new Australia-Israel tax treaty – major boost to trade and co-operation
Capital Markets and Stock Exchange Regulations
In 2017 the Afik&Co. law firm took upon itself to promote the Israel-Australia trade relationship and join the amazing work done for decades by the Australia-Israel Chamber of Commerce. Afik & Co. does that in cooperation with Australian law firms and with Israeli and Australian accounting firms, including the national Australian law firm of Hall […]
December 18, 2018
Employee Stock Option Plan – Nothing New Under the Sun
High-Tech and Technology
Every employee in the high-tech industry (and these days also in other sectors of the economy) knows the term “ESOP” and often start-ups, with the aim of saving legal costs, also create an employee stock option plan and option grant agreements instead of salary (or as part of the salary) without first consulting a lawyer […]
October 8, 2018
On (Employees) Stock Options and Divorces
High-Tech and Technology
Statistics indicates that more than a quarter of married couples in Israel will undergo a divorce. Some would say, like the well-known comedian Louis C.K., that marriage is just the preparation for the really good thing – the divorce. At the time of the divorce, the spouses’ assets are balanced and for this purpose each […]
July 11, 2018
“Fresh Start” – Is a company bound by pre-incorporation agreements?
High-Tech and Technology
Promises should be kept. However, what would you say of a new start-up whereby promises need not be kept? In the entrepreneurial world, it is customary for an entrepreneur to perform various actions on behalf of a company to be incorporated, even before its incorporation. Thus, for example, an entrepreneur would often hire employees, preform […]
June 4, 2018
Taxation of payment for a non-compete obligation
Commercial, Banking and Financial
In the framework of a merger transaction, the manager of a company or a shareholder signs a non-competition agreement and receives monetary compensation in consideration thereof. A few years later, during an audit by the Tax Authority, the Authority suddenly contends that the compensation is considered labor income and must be taxed accordingly (a tax […]
January 29, 2018
Voluntary Disclosure Procedure and Banking Information Exchange
Taxation and Government Incentives and Funding
The CRS agreement for the automatic exchange of information between the tax authorities, which is expected to be implemented in Israel soon, is intended to fuel the fight against black capital. As a result of the agreement, Israel is expected to automatically receive information about bank accounts held by residents of Israel from dozens of […]
November 6, 2017
Liability of shareholders for tax debts of the Company
Taxation and Government Incentives and Funding
A client of our firm, a German businessman, invested a large sum of money to purchase 40% of the shares of an Israeli company, but the investment was unsuccessful and the company closed down. A few years later, the businessman was surprised to receive a demand to pay the company’s city tax, even though the […]
July 19, 2017
Liability of purchaser of Company assets for past liabilities
International Transactions and Dispute Resolution
Many erroneously believe that it is preferable to purchase a company’s activity in a transaction for company acquisition and not the corporate vehicle itself, thereby avoiding the risk of assuming company debts.  Because of this, many believe that it is possible to avoid transaction costs by a simple acquisition agreement without need for a comprehensive […]
May 10, 2017
Grants to Fund of International Pilots and Tenders
Taxation and Government Incentives and Funding
The Israeli Ministry of Economy is supporting Israeli companies in approaching international markets by assisting in financing pilots or tenders abroad. Who can apply to the fund? The fund is designed for Israeli companies that compete in tenders and pilots in the international arena according to the following indices: •         The value of the project […]
April 26, 2017
“Exit Tax” for French immigrants when moving to Israel
Taxation and Government Incentives and Funding
The Israeli legislation encourages Jews to relocate to Israel (or “make Aliya” as it is named in Israel).  One of the tolls used is tax incentives.  A person who receive a status of an “Oleh” or a returning resident is entitled to reductions points entitling for reduction of the Israeli income tax in the three […]
April 26, 2017
“Smart Money” Grant for Marketing Abroad
Taxation and Government Incentives and Funding
“Smart Money” – ILS 500K Grant for Marketing Abroad The Ministry of Economy assists with up to 500 thousand ILS (for the China, India and Japan markets up to 1 million ILS), financing marketing expenses and professional accompaniment to enter a new target market or increasing sales to an existing target market. Conditions for receiving […]
April 12, 2017
Money from the State? Sounds Chinese to Me
High-Tech and Technology
Every entrepreneur understands that in order to facilitate the innovative project conjured by him he needs funding. How? From whom? and how much would it cost? These are the main questions that bother many entrepreneurs because their significance is acute in realizing the project and turning it from a “brilliant idea” into a successful start-up. […]
January 18, 2017
Taxing of Wallet Companies
Taxation and Government Incentives and Funding
Many high-wage employees use ‘Wallet Companies’ in order to try and reduce their tax burden. The 2017 tax reform may put many of them at risk of high rate taxation. Every year the Tax Authority is pushing to close, or at least reduce, the gaps in Israeli tax net. A faulty taxation planning of transaction […]
October 13, 2016
Validity of a Contract made for Appearance Sake Only
Taxation and Government Incentives and Funding
An Israeli company wished to penetrate the European market and for that purpose contracted a Belgian company and agreed on fees for such services. However, because at that time one was entitled to receive state incentives by way of reimbursement of rental expenses and office expenses, the parties signed an agreement for the lease of […]
July 19, 2016
Polish GAAR to Enter into Force on July 15, 2016
Taxation and Government Incentives and Funding
Dr Janusz Fiszer Associate Professor at the Warsaw University School of Management and Partner at the GESSEL Law Office Warsaw On May 13, 2016 Sejm, the lower chamber of the Polish Parliament, passed amendments to the 1997 Tax Code, introducing the General Anti-Avoidance Clause (GAAR). The relevant provisions shall enter into force on July 15, […]
September 16, 2015
Nonrefundable Grants For Firms In The Traditional Industry Field
Taxation and Government Incentives and Funding
Nonrefundable Grants For Firms In The Traditional Industry Field Given By The Chief Scientist For Investments In Research and Development This program is open until the 31/12/15   A grant will be given to companies in the traditional industry field whose sales turnover is less than $ 70 million, most of their production is in […]
January 18, 2012
Reporting obligations of private companies and the payment of an annual fee
Taxation and Government Incentives and Funding
At the beginning of the tax year, it is advisable to refresh the issue of the reporting obligations of private companies under the Companies Law, 1999, and the obligation to pay an annual fee, in light of the fact that the failure to timely pay the fee may lead to an increase in the amount […]
August 26, 2011
Amendments to Cyprus Tax Laws
International Transactions and Dispute Resolution
Amendments to Cyprus Tax Laws On 26 August 2011 the Cyprus House of Representatives, in an aim to reduce public deficit and improve public finances has passed a series of important amendments affecting tax and companies legislation which are outlined below. 1. The Companies Law As from 2011 and onwards, all Cyprus companies will have […]
April 13, 2011
Obligating the owners of control of the municipal property tax
Taxation and Government Incentives and Funding
As representatives of quite a few local authorities, we encounter quite a bit of the distress of the local authority, when companies’ businesses open and close like mushrooms after rain, leaving large debts to the authorities. As will be explained below, the legislator now allows a local authority to sometimes charge a shareholder with the […]