Tag Archives: Aaron R. Katz

Israel Reopens Offshore Areas to New Gas Exploration; Encourages Foreign Bidders To Participate

In a highly anticipated announcement, earlier today, the Petroleum Council of the Ministry of National Infrastructures, Energy, and Water Resources approved the reopening of Israel’s economic waters to new oil and gas exploration. Based on the recommendation of the Council to the Minister of Energy Yuval Steinitz, 24 offshore exploration blocks will be offered in an … Continue Reading

New Tax Implications for Israeli Citizens with Foreign Bank Accounts

On Aug. 1, 2016, the Israel Tax Authority announced that it has received information on over 8,000 Israeli clients with foreign bank accounts in Switzerland. The receipt of this list has major tax implications for Israeli citizens who are required to report foreign bank accounts to the Israel Tax Authority. Moreover, this will have additional … Continue Reading
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