- Supreme Court ruling in GFI Securities Limited case
- Financial intermediary services transaction involving Israeli and foreign residents
- Transaction considered as providing one service to both parties
- Denies benefit of zero VAT rate for service to foreign resident
- Overturns district court verdict from August 2021
- Legal question regarding VAT on fee collected from foreign bank
- GFI ruling favored by district court, overturned by Supreme Court
- Joint service to foreign and Israeli residents negates zero VAT rate
- Brokerage deal considered as one-service transaction by Supreme Court
Source: barlaw.co.il
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
