October 15, 2019 - Beverly Hills California Businessman Sentenced to Prison
A Beverly Hills, California, businessman was sentenced Thursday to 21 months in prison for filing false tax returns, which failed to report his offshore accounts in Germany and Israel and the income earned on those accounts, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Tax Division and U.S. Attorney Nicola T. Hanna for the Central District of California.
June 10, 2019 - Tax authority looking into Israeli accounts in Cayman Islands
Thousands of Israeli-held accounts in the popular Caribbean tax haven are under review, says Israel Tax Authority Director Eran Yaakov. Probe launched after Cayman authorities alerted Israeli counterparts of thousands of Israeli accounts that have previously gone unreported.
June 5, 2019 - Israeli Supreme Court Sides with Crypto Exchange in Bank Account Case
Bits of Gold, Israel’s largest broker of bitcoin and Ethereum, can keep its bank account with the country’s biggest bank. That’s the decision from Israel’s Supreme Court on Monday. It overturned a district court’s earlier decision to allow Bank Leumi to close the Israeli crypto exchange’s account.
May 30, 2019 - WEALTHY CALIFORNIA TAX CHEAT GETS OFF EASY
Though prosecutors originally believed Waknine could face as much as three years in prison, they requested a term of 10 months.
March 13, 2019 - Major Israeli bank to pay $195M for US tax-avoidance scheme
The bank agreed to pay the government $53 million in restitution, plus the $24 million in fees it earned from the transactions and a $118 million fine.
March 13, 2019 - U.S. Tax Dispute: Five to Go
Bank Mizrahi-Tefahot, an Israel-based institute, has reached a so-called deferred prosecution agreement (DPA) with the Department of Justice (DoJ). The company, which used the Swiss unit Mizrahi Bank (Switzerland) to hide assets belonging to U.S. taxpayers, has to pay $195 million, the DoJ said on Tuesday.
February 11, 2019 - Brothers Who Ran L.A. Clothing Business Sentenced in Foreign Bank Scheme
One of two brothers who ran a Los Angeles wholesale clothing business was sentenced Wednesday to six months behind bars, while his younger sibling received probation for failing to file required paperwork that would have disclosed funds hidden in offshore accounts.
December 21, 2017 - Netanyahu’s Bitcoin Forecast Puts Israel at Center of Financial Technology Revolution
Israel has recently been identified as a global leader in the emerging blockchain and digital currency sphere, with experts in the field acknowledging that the Jewish state’s cyber capabilities, security proficiency and wealth of entrepreneurial expertise provide an ideal foundation for blockchain technology projects.
December 19, 2017 - Israel introduces second voluntary disclosure scheme ahead of CRS implementation
Under the Israel Tax Authority’s latest voluntary disclosure procedure, Israelis will be able to come clean about any previously unreported income without facing criminal proceedings, Israeli tax specialists and media organisations are reporting. The new scheme was unveiled on 12 December, and is in force now.
July 5, 2017 - 8 more UBS tax evasion suspects summoned
Letters were sent to businessmen, lawyers, and employees suspected of concealing income varying between hundreds of thousands of shekels to NIS 5 million.
June 27, 2017 - Leumi launches digital bank Pepper
it is a bank that exists only on a mobile phone; it has no branches, nor even a website. With the launching of Pepper, every person (not just Bank Leumi customers) can download the app from app stores on their phone and open an acount.
June 7, 2017 - Israeli Resident Says IRS Didn’t Notify Him Of Bank Summons
The Internal Revenue Service, acting upon a request from Canadian tax authorities under a tax treaty between Canada and the U.S., served PNC bank with a summons in May to obtain detailed account information for Tibor Silber, a former Canadian resident now living in Israel,
March 6, 2017 - U.S. Treasury ‘Informs’ on More Israelis With American Accounts
The Tax Authority announced on Tuesday that it has received information about an additional 30,000 Israelis who have accounts in American financial institutions. The data supplied by the U.S. Treasury relates to accounts that were held in American banks by Israeli nationals in 2014.
February 23, 2017 - Credit Suisse’s Israeli Desk in New Tax Evasion Probe, Report Says
The investigation focuses on the bank’s Israeli desk, which has hundreds of clients. According to the report, an investigation of a dual Israeli-American citizen living in Israel by the U.S. Justice Department in July 2014 disclosed that he had assets in a Credit Suisse account that he had not reported.
January 19, 2017 - Israel Welcomes Tax Info On Israelis in US
The ITA noted that an Israeli resident is entitled to have financial assets abroad, but has to report to the tax authority all of the income generated, including interest, dividends, and capital gains. It is now comparing the records it has now been given against the details it holds