« News index »
ISRAELI TAXMAN PLANS TAX ON DIGITAL PRODUCTS
14th March, 2016 at 05:59:22
And that includes online gambling.
The Finance Ministry in Israel is working on the draft of a new law that will require overseas businesses to register with the Israel Tax Authority and file tax returns, according to a weekend report in the newspaper Haaretz.
The draft includes international Internet companies who sell downloadable goods and services online in Israel, offer communications services or radio and television broadcasts, who will be required to charge value-added tax. That includes downloaded apps, software, music, games, television programs and films, online telephone and fax services, Web access....and online gambling.
Haaretz uses Amazon as an example, noting that the ecommerce giant would have to charge VAT of 17% on Israeli orders for e-books, and that travel reservation companies would also have to charge VAT on their internet services.
Israel is not acting in isolation; an Organization for Economic Co-operation and Development tax initiative was launched last year in response to international governmental concerns about the growing volume of global ecommerce sales on which no taxes are currently being paid, particularly on products bought by consumers from sellers outside their home jurisdiction.
"In 2014, business-to-consumer e-commerce sales were estimated to exceed $1.4 trillion
Related News Tags: Israel
PLUS 500 FOUNDERS TAKE ADVANTAGE OF GOOD RESULTS TO SELL OFF SHARES
30th September, 2016 at 14:31:29
Israeli founders of spread betting and CFD company sell off $130 million's worth of shares.
STRONG ONLINE GAMBLING COMPONENT AMONG ISRAEL'S BILLIONAIRES
29th September, 2016 at 13:40:19
Six out of 29 made their fortunes on internet gambling.
BRITISH COMPANY FIGHTS ISRAELI HORSERACING BAN
22nd September, 2016 at 10:32:09
Betting services firm GBI alleges Israeli government made flawed decision in rescinding the 2012 authorisation of betting through Toto.
PLAYTECH CUTS ISRAELI MARKETING HEADCOUNT
20th May, 2016 at 09:21:48
Marketing subsidiary Xwise lays off 75 percent of its staff.