Tax Authority head plans partial tax amnesty

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A one-time measure will allow people to bring money into Israel without fear of criminal proceedings.

Israel Tax Authority director general Yehuda Nasradishi told an accountants conference that he plans initiating a one-time measure allowing people to bring money into Israel without fear of criminal proceedings.

According to Nasradishi the Ministry of Finance decided not to implement a full tax pardon but will consider the one-time possibility of allowing people to bring money into the country.

However, Nasradishi warned that while those bringing money into Israel will be free from criminal prosecution, the amount of tax paid will not be reduced although the Tax Authority will not impose fines or interest.

Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2010