It has been reported that, as part of the Israeli Ministry of Finance's policy to renew Israel's tax treaties with important OECD member countries, Israel and the United Kingdom have recently agreed on the principles of the content of a new, as yet unsigned, tax treaty. Once in force, the new treaty will replace the Israel-UK income tax treaty of 26 September 1962, as amended by 1970 protocol.
The main features of the new treaty are reportedly: