Our firm specializes in providing accounting and taxation services to trustees. At the same time, we handle the submission of annual reports to the trusteeships and ongoing matters relating to the conduct of the tax authorities, and complex tax planning and trust opinion. The services are provided, as the case may be, to the relevant entities in trust: Trustees, Grantors, Settlors, and Beneficiaries.

Submitting Annual Reports to Trustees, Creators, Beneficiaries

In recent years, there have been far-reaching changes in the context of the taxation and reporting obligations of trusts and the relevant entities: trustees, creators and beneficiaries. As of 2014, and following Amendment 197, there was a significant increase in the number of taxable and reporting trusts in Israel. The reporting and taxation obligations of derivative trusts are from the classification of trust (the loyalty of Israeli residents, the loyalty of a resident of Israel [including trusteeship of relatives], the loyalty of a foreign resident, the loyalty of foreign residents or trusteeship under a will).
In addition, in recent years, additional legislative amendments have been introduced which significantly extended the reporting obligations, so that now it is mandatory to submit an annual report to every beneficiary who received a distribution from a trustee in the tax year, as well as to any beneficiary over the age of 25 in trust exceeding NIS 500,000 received a division.
Our firm has accumulated many years of experience in dealing with ongoing transactions with tax authorities and submitting annual reports to trustees, creators and beneficiaries.

An Expert’s Opinion for Trusts and Tax Planning for Trusteeships

The issue of taxation of trusteeships is one of the most complex aspects of Israeli tax law. Although a recent professional instructions was published by the Tax Authority, many professional questions remain open to interpretation. Our firm specializes in writing opinions on various matters relating to trusts, including reference to entitlement to benefits for new immigrants and returning residents, prevention of double taxation, examination of classification of trusteeships according to the law, etc.

If you are looking for an accountancy firm to deal with matters related to trust, or as creators or beneficiaries, we will be happy to arrange a consultation meeting for you free of charge.

Schedule a meeting or contact us