Israel's parliament adopted the Economic Arrangements Law for 2015/16 on 18 November 2015.The main measures of the Law concern transparency and anti-avoidance, and include:
- Taxpayers are required to inform the Israel Tax Authority (ITA) when they have applied or relied on written tax advice, including the nature of the advice;
- Financial institutions are required to provide information to the ITA concerning the transactions of businesses on a regular basis and by request;
- The Prohibition on …