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ACCOUNTANT

Requirements in Israel for operating a business and submitting a tax return can be confusing for someone who is used to the customs and procedures of another country.

As a salaried employee in Israel you are not required to submit an annual tax return if your income from your employer does not exceed a certain amount (In 2010 NS 613,000). It is therefore not necessary for you to pay an accountant to submit a tax return on your behalf.

If you are a self-employed person you are required to submit a tax return and it is desirable (but not compulsory) that you contact an accountant to assist you with this.

Under certain circumstances in both of the above, an accountant can be of assistance. Should you suspect that your employer has over deducted the amount of tax that you are required to pay as a salaried employee or you may have deductible expenses for which you can claim a tax refund e.g. payments for pension or life insurance or contributions to recognized charities, an accountant can help you submit a taxation return. If you have been employed by more than one employer within the same year it is quite likely that the cumulative amount of tax deducted is incorrect. Your accountant can perform a simulation of your tax return to determine whether you may have a tax refund due to you. If you decide to submit a tax return to claim a tax refund, this does not entail the opening of a permanent tax file. Your overpayment will be refunded in due course and no further demands will be made for tax return submission.

WHO NEEDS AN ACCOUNTANT ?

If you are intending to establish a business within the framework of a registered company you must enlist an accountant to perform statutory duties for the preparation and submission of financial statements and annual income tax returns. The accountant also performs a duty of auditing the accounts and ensures compliance with the requirements of income tax regulations. There are a number of accountants in Israel who are able to provide a full accounting service for clients who prefer communicating in English.



רח' התע"ש 26 כפר סבא
ת.ד 2365 מיקוד 44425


לקבלת שירות ממשרד רואה חשבון הקרוב לאזור המגורים נייד : 050-4988998

דואר אלקטרוני : webon@webon.org.il

Accountant
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