- Israeli Tax Authority updates VAT thresholds and requirements starting January 1, 2025
- Exempt dealer turnover threshold set at 120,000 Israeli shekels
- VAT-registered buyers must request invoices for transactions over 350 Israeli shekels from January 1
- New threshold for additional VAT obligations set at 28,115 Israeli shekels
- VAT-registered businesses to report input tax surplus over 20,974 Israeli shekels from January 1
- Late reporting penalties of 239 shekels every two weeks starting July 1, 2024
- Penalty for poor VAT recordkeeping set at 1% of tax liability, minimum 359 shekels from July 1, 2024
Source: globalvatcompliance.com
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.
