Israel publishes new TP regulations following adoption of BEPS Action 13 principles in domestic legislation

Israel has enacted legislation to align its transfer pricing (TP) rules with Base Erosion and Profit Shifting (BEPS) Action 13 requirements (Local File, Master File, and Country-by-Country Reporting).”

Now new TP regulations have been published for the implementation of the new TP rules.”

Multinational enterprises should carefully review the implementation of the new TP rules and the new regulations, as they may be applicable to the filing of Israeli fiscal year (FY) 2021 tax returns.