United States:
U.S. Trusts With Israeli Beneficiaries Now Taxable – What You Need To Know About The New Law And The Decisions That Must Be Made In 2014
24 December 2014
Fox Rothschild LLP
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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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