New Tax Benefits for Immigrants and Returning Residents

Israeli Government Portal

News in English


News

New Tax Benefits for Immigrants and Returning Residents

Last Modified at:15-Dec-2008

Immigrants and returning residents will enjoy a new tax benefits package formulated by The Ministry of Immigrant Absorption and the Tax Authority.

The Ministry of Finance announced a new tax reform in honor of Israel's 60th anniversary. The reform is based on a proposal by the Ministry of Immigrant Absorption and the Tax Authority meant to increase the number of Israelis and Jews that choose to make Israel the center of their lives.

The reform grants exemptions from taxes and from reporting assets and income whose source is from abroad for a 10-year period, including all types of income, as well as for companies managed by new immigrants.

In addition, a new tax status will be adopted for returning citizens that lived abroad for a period of 10 years or more, who will be classified, for all tax purposes, as new immigrants. Both returning citizens and new immigrants will also be entitled to one year adjustment period during which they will not be considered Israeli residents for tax purposes.

Minister of Finance Ronnie Bar-On said the new reform will appeal to Israeli and Jewish businessmen and academics, who in turn will help strengthen the Israeli economy and increase its growth.

For additional details about the Returning Home campaign, contact the special information center by phone: 972-3-973-3333 or by email: hozrim@moia.gov.il

Tax benefits for new immigrants and returning residents

The Ministry of Immigrant Absorption

Returning home for Israel 60th

Making Aliyah: the gov.il guide for New Immigrants

Investing in Israel: the gov.il investor section

All news