U.S. Trusts with Israeli Beneficiaries Now Taxable – What You Need To Know About the New Law and the Decisions that Must Be Made Now

December 22, 2014Articles

Until 2014, Israel generally exempted from its income tax any trust that had been created by one or more of foreign persons, even though one or more beneficiaries were Israeli residents. Further, Israel did not generally seek to tax an Israeli resident beneficiary on receipt of a distribution from such a trust, and in certain cases did not require the beneficiary to even report such distributions to the Israel Tax Authority (ITA)

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