Israel’s Tax Authority releases new Form 1585 and updates Form 1385 following adoption of BEPS Action 13 principles

In September 2022, Israel enacted legislation and promulgated an amendment to the transfer pricing regulations, to align its transfer pricing rules with the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) Action 13 requirements (Local File, Master File, and Country-by-Country Reporting).

Further to such, the Israeli Tax Authority recently published a new notification form (1585) with respect to the due disclosure on Country-by-Country reportin…