The most authentic there is - the farmers of the south talk about the aid they received./Azrieli Group.
Business owners in Israel are breathing a sigh of relief: the Tax Authority will postpone the implementation of the "Israel Invoices" program, which was supposed to be launched at the beginning of April 2024, to next year.
As part of the war on fictitious invoices and the fight against black capital, the program required all business owners to confirm with the tax authority every invoice they generate in the amount of over NIS 25,000, as a condition for tax deductions and refunds.
The plan was supposed to go into effect on January 1, 2024, but was delayed by four months because of the war.
A few days ago, the Tax Authority published the guide for receiving allocations, a document that was met with outrage by accountants and tax advisors because of its clumsiness and complexity, which was supposed to turn a routine matter of submitting an invoice, into an event that would steal time and make the lives of the self-employed, who are still fighting for their survival these days these.
Hundreds of thousands of shekels in black money seized by the police in the past.
According to estimates, this is about 20% of the product/shey of Makhlouf
The president of the Chamber of Tax Consultants, Yaron Gindi, published on his Facebook page an appeal to the representatives: "We all experience the heavy burden on the offices, especially during the period of iron sword grants. In light of this fact, I spoke this morning with Attorney Shai Aharonovich, the director of the Tax Authority, about a postponement of the implementation of 'Israel Invoices' and I put before him the challenges we face and the fact that the required implementation is complex and does not fit the time inputs that will be required of us at this time.
It was agreed that there would be consideration of the representatives, which would be reflected in a possible postponement of the implementation of the move."
At the meeting of the finance committee that took place about a month ago, and held a quick discussion on the topic of "fighting black capital in Israel, for the purpose of increasing the state's revenues", the members of the Knesset were presented with studies by the OECD, which estimate the total capital The black money in Israel is NIS 300 billion, which is about 20% of the GDP. This money is used for criminal activities such as protection and the sale of drugs, as well as to finance terrorist activity.
Fictitious invoices are one of the main tools for tax evasion in Israel and according to estimates they deduct billions from the state's revenues, therefore the war on them and on capital Blackness is one of the main targets of the Tax Authority.
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Gindi.
"We all experience a burden during the period of Iron Swords grants. The required implementation will be complex and not suitable for this time"/Reuven Castro
The fictitious invoices do not reflect a real transaction, and their purpose is to reduce the VAT payments of the business. According to the method used in Israel, the business collects the VAT for the state and transfers it to it, and the amount is deducted from its income.
So that a situation can arise where the business has only expenses, zero income, and therefore it can receive VAT refunds from the income tax.
The intention was to focus on the large transactions, between dealers and dealers, and not the exempt dealers who are not included in it. Who was supposed to handle the procedure Complicating matters were the accountants and tax consultants, who are now dealing with the outdated and ineffective government campaign, which is supposed to respond to the requests of the independent business owners for grants following the war. As of now, tens of thousands who submitted applications for grants and advances, have not yet received them.
More on the same topic:
Dirty money
money laundering
Yaron Gindi
Fictitious invoices
Internal Revenue Service
War of Iron Swords
business owners
Gaza war
small businesses