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.