{"id":86,"date":"2010-12-30T07:00:50","date_gmt":"2010-12-30T07:00:50","guid":{"rendered":"http:\/\/jobshuk.com\/motal7\/2010\/12\/30\/tax-update-for-2011\/"},"modified":"2010-12-30T07:00:50","modified_gmt":"2010-12-30T07:00:50","slug":"tax-update-for-2011","status":"publish","type":"post","link":"https:\/\/jobshuk.com\/motal7\/2010\/12\/30\/tax-update-for-2011\/","title":{"rendered":"Tax update for 2011"},"content":{"rendered":"

The following new changes\/ updates will go into effect Jan 1st. 2011:<\/p>\n

1. The 101 tax form that all employees and pensioners are required to fill out each year has been updated. The new form now includes details in section D on income from scholarships (which are exempt from income tax but must be declared).<\/p>\n

2. Section 8 of the 101 form (requests for exemptions and reductions) now includes a new clause for returning citizens, who can receive extra tax credit points provided they check this box and they have a valid "returning citizen" document which is issued by the Ministry of Absorption. A photocopy needs to be attached to the 101 form. <\/p>\n

3. Change in V.A.T. law. The reduction in V.A.T. from it’s current rate of 16% to 15.5 % has been delayed until Jan 2013. This still doesn’t mean anything as it still needs to be approved in the bi-annual state budget for 2013-2014. As for now – no change.<\/p>\n

4. Starting in Jan 2011 any payment of subsistence pay (eshel) will no longer be exempt from tax and will not be recognized as a deductable expense by the Israeli Tax Authorities. <\/p>\n

5. The minimum annual amount for contributions to charity has been raised to 310 shekels and the maximum has been updated to 7,636,000 shekels.<\/p>\n

Moshe Egel-Tal, CSPP
<\/font>Founder and CEO, Israpay   "making payroll simple"<\/p>\n

 Site<\/span>: http:\/\/www.israpay.com<\/a>
 Email<\/span>:  mo***********<\/span>@***<\/span>il.com<\/span><\/a><\/p>\n

Skype<\/span>: motal7 <\/p>\n

Snail Mail<\/span>:  p.o. box 44429 Jerusalem, Israel 91443 <\/p>\n

 Follow me on social networks: Facebook, xing, twitter, Plaxo, FriendFeed, LinkedIn, Digg, Tagfoot, Myspace    Username: Israpay<\/span><\/span><\/p>\n

 <\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

The following new changes\/ updates will go into effect Jan 1st. 2011: 1. The 101 tax form that all employees and pensioners are required to fill out each year has been updated. The new form now includes details in section D on income from scholarships (which are exempt from income tax but must be declared). 2. Section … <\/p>\n

Continue reading “Tax update for 2011”<\/span><\/a><\/p>\n\n\n","protected":false},"author":52,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[100,62,4,101,10,20,14,8,102,103],"class_list":["post-86","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-100","tag-62","tag-employee","tag-forms","tag-israel","tag-payroll","tag-salary","tag-tax","tag-updates","tag-v-a-t","entry"],"yoast_head":"\nTax update for 2011 - The Payroll Thing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jobshuk.com\/motal7\/2010\/12\/30\/tax-update-for-2011\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax update for 2011 - The Payroll Thing\" \/>\n<meta property=\"og:description\" content=\"The following new changes\/ updates will go into effect Jan 1st. 2011: 1. 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