The Israeli Tax Authority is moving ahead with the battle against owners of unreported overseas bank accounts. In recent months, the Israel Tax Authority has been conducting a great and complex investigation into unreported overseas bank accounts held by Israelis in foreign banks, mostly in Swiss banks. The Israeli Tax Authority estimated that approximately NIS 50 billion is held in unreported overseas bank accounts by Israelis around the world. For more details, see: Israeli Taxation and Banking Secrecy See also Israeli Banks and Tax Compliance Dr. Avi Nov Law Offices, Israeli & international tax law
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