Yigal Arnon & Co. updates Clients on the ITA rulings on equity grants
Ben Sandler & Yair Benjaimini
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The Israel Tax Authority (ITA) has recently published a number of decisions that provide guidance on the ITA’s positions regarding certain issues relating to the taxation of employee equity grants, and particularly, with respect to the “capital gains track” defined in Section 102(b)(2) of the Israeli Income Tax Ordinance (ITO).
While these decisions provide an indication of the ITA stance on these issues, it may nonetheless be necessary to seek specific confirmation from the ITA in similar factual circumstances.

Presentation: M&A in Israel
Barry Levenfeld
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Presentation: Anatomy of of an International Business Transaction
Barry Levenfeld
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Legal Update: Corporate Governance Amendment Summary
David Schapiro, Avraham Ben-Tzvi
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On March 7, 2011, the Knesset enacted an amendment to the Companies Law, which was officially published on March 15, 2011.
The main purpose of the Amendment is to revise and enhance many provisions in the Companies Law concerning corporate governance practices – mostly with respect to publicly traded corporations, though certain provisions apply to private companies as well.
The following is a concise list highlighting the principal provisions of the Amendment.

Presentation: Pre-Deal Phase, Regulatory approvals
Ronit Amir Yaniv
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Legal Update: Placement Agency Data
Yoheved Novogroder- Shoshan and Shira Lahat
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This update summarizes draft guidelines released by the Database Registrar in respect of the collection and use of personal data provided by job applicants to companies providing pre-employment evaluation and screening services.  If the guidelines are released in their current form, they will impose substantive obligations on employers who refer job applicants to these screening agencies.

Legal Update: Open Source Software and Recent Israeli Case Law
Daniel Green, Eli Greenbaum and Yoheved Novogroder- Shoshan
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This memo provides a general introduction to open source software, addressing some terms in open source licenses that commercial entities may find problematic, recent case law in Israel enforcing an open-source license, and the issues raised by open source licenses in investment and other corporate transactions.

Presentation: Anti Trust Law - General and Aviation Specific
Ronit Amir Yaniv
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Legal Update: Capital Gains Tax Exemptions for Non Residents of Israel
Harry Kirsh
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In late December 2008, the Israeli Knesset (parliament) passed an amendment to the Israeli Income Tax Ordinance (ITO) which signals a fundamental change in the treatment of capital gains derived by non-residents of Israel. In brief, the amendment provides for a broad exemption from tax to non-Israeli investors selling shares in Israeli and Israeli-related companies.
Legal Updates in Labor Law
Shira Lahat
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This update covers issues related to firing of employees under special situations:
1-When an employee is on sick leave
2-When an employee is on annual vacation
Amendment to Salary Protection Laws
Shira Lahat
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Recent amendments to the Salary Protection Law and the Hours of Work and Rest Law that will come into effect in February 2009 will have a significant effect on the way employee compensation is structured and reported, and companies who are not compliant with these new requirements potentially face increased exposure to employee claims.
Legal Update: Anti-Spam Act
Yoheved Novogroder- Shoshan
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The Law prohibits dissemination of commercial e-mail advertisements, as well as other forms of electronic advertisements, without the recipient’s prior express consent.