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The announcement includes an explicit warning that the relevant taxpayers who will not amend their previous years' tax returns are exposed not only to higher income tax adjustments, but also in certain cases, to penalties.
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On December 13, 2018, the Israeli tax Authority issued a public
announcement demanding from certain taxpayers to file amended tax
returns, with respect to previous years, where such taxpayers
adopted a cost plus transfer pricing method.
The announcement includes an explicit warning that the relevant
taxpayers who will not amend their previous years' tax returns
are exposed not only to higher income tax adjustments, but also in
certain cases, to penalties.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
