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An overview by Herzog Fox & Neeman, Taxand Israel
The Israeli government have recently launched a new voluntary disclosure procedure (effective until 31 August 2026) allowing taxpayers to report previously undeclared income across direct and indirect taxes without facing criminal charges.
Unlike earlier schemes, anonymous submissions are barred, no tax reductions are offered, and offsets of losses or credits are excluded. Immunity is granted only if disclosures are full, honest and made before the Tax Authority has prior knowledge. Taxpayers may now appeal tax liability assessments in court, though rejected requests cannot be withdrawn, and information disclosed cannot be used against the taxpayer. The procedure applies to a wide range of tax offences but does not guarantee bank acceptance of disclosed funds.
Meir Linzen, Guy Katz, Iris Weinberger and Dr. Yuval Navot from our Israeli member firm Herzog Fox & Neeman has published an overview of this new procedure and its implications which can be read here.
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