Accountancy Services

Representation before the Income Tax and Value Added Tax Authorities and before the National Insurance Institute
Our firm has considerable experience in discussions with the Income Tax and Value Added Tax Authorities and with the National Insurance Institute on professional issues and in support of legal proceedings, should this be necessary.
Sometimes the Authorities see an issue differently from the way the client sees it, which can result in extremely large assessments that place a heavy financial burden on the client.

Our firm has considerable experience in filing objections against such assessments and, in deliberations with regard to these, we have had success in convincing the Authorities of the correctness of the client’s approach and interpretation.

Financial statements, personal filings and declarations of capital
Our firm deals with, audits and prepares financial statements for companies from all sectors of the economy and also submits annual filings for self-employed individuals and declarations of capital for self-employed individuals and controlling shareholders of companies.

Management and Consulting Services

Voluntary disclosure

With the development of the shared exchange of information between countries around the world and the agreements to which Israel is a signatory, as well as the restrictions that the banks impose on the transfer of funds and the exposure to tax offenses under the Anti-Money Laundering Law which carry onerous penalties, it seems that taxpayers will be acting speedily to declare their income and assets in Israel and abroad which had previously not been reported as required.
Failure to report income and assets in Israel and abroad constitutes a civil and criminal offense and could result not only in the payment of the tax principal, with the addition of interest and linkage differences, but also in the heaviest of penalties, confiscation and even imprisonment.
Our firm has considerable experience in submitting requests for voluntary disclosure and discussions thereon, resulting in a reduction of the client’s tax liability, in accordance with the relevant tax laws relevant in each case.

Due diligence examinations

Our firm has considerable experience in conducting due diligence examinations prior to the acquisition of companies or business operations, for the purpose of authenticating the data being presented and so as to ensure that there are no economic and/or tax exposures that have not been disclosed in the financial statements and which were not revealed during talks with the seller.

Internal audits and audits of ADP systems

In recent years, internal audits and audits of ADP systems have come to play an important role in the corporate management process. Some companies are obligated, under the various laws to which they are subject, to perform an internal audit.
The General Data Protection Regulation (GDPR) was enacted by the European Parliament and the European Commission in May 2018. As the GDPR provisions begin to be applied, particular care needs to be taken and audits of ADP systems have to be performed to ascertain how effectively the confidential data of private individuals, held by business entities, are protected.
Failure to apply these provisions could result in heavy penalties being imposed on the business entities.