Israel changes bi-monthly VAT threshold

Israel changed the turnover VAT threshold to submit bi-monthly VAT returns.

10 October, 2017


 

Israel changed the turnover VAT threshold to submit bi-monthly VAT returns.

Tax Authorities announced the threshold will be reduced to NIS 1,490,000 as from January 2018. Until this moment, the threshold below which taxpayers could submit bi-monthly VAT returns was ILS 1,500,000 (circa € 361,000).

Once the threshold is exceeded, monthly VAT returns must be filled.

In Europe, most countries have different criteria to determine the frequency of filing of VAT returns. This frequency can be determined by the annual taxable turnover, like in Spain or Portugal. Other countries like France or Germany take the annual VAT due to the tax authorities, and in Poland the global turnover is taken into account.

Israel changes bi-monthly VAT threshold

 


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