The Israeli parliament approved Legislation on Bank Information exchange, which was initially published as part of the fiscal sections of the proposed Law on the Economic Arrangements accompanying the 2015-2016 Budget. The Legislation on Bank Information exchange expands the right of the Israeli Tax Authority to exchange information internationally. The Legislation on Bank Information exchange will allow Israel to meet, among others, its obligations under the Israel - United States FATCA Model 1A Agreement that was signed on June 30, 2014, and the Standard for Automatic Exchange of Financial Information of the OECD, known as the CRS or the Common Reporting Standard. See more, here: Israeli Legislation on Exchange of Information See also: Israel will Exchange Information on Bank Accounts Israel will automatically exchange information Israeli Banks and Foreign Residents Dr. Avi Nov Law Offices, Israeli & international tax law
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