Related briefings

Israel: Amendments to pension insurance allocation rules

After about a year of uncertainty about the pension insurance allocation ratios, the matter has now been resolved. A collective agreement has been signed between the Presidium of Israeli Business Organisations and the Histadrut Federation of Labour, which regulates the increase in the ratios of both the employee’s contribution and the employer’s contribution to the pension component in […]

Israel: Amendment of the Income Tax Ordinance

An amendment to the Income Tax Ordinance that was recently enacted obligates financial institutions to identify the residency and citizenship of their foreign account holders. The financial institutions are required to report the information to the Israel Tax Authority, so that the ITA can then relay that information to the relevant foreign tax authority. Consequently, provisions of the […]

Reverse vesting and holdback – good news for entrepreneurs?

In the world of high tech and Israeli tax there has been some uncertainty as to whether entrepreneurs, whose shares are subject to a reverse vesting mechanism or a holdback upon their sale, should be paying income or capital gains tax. Earlier this month the Israel Tax Authority published a draft circular presenting its position […]

Israel: foreign construction companies get green light

In March 2016 the government adopted the housing cabinet’s recommendations regarding criteria for allowing foreign construction companies to begin operating in Israel. This move is one of the government’s strategies for increasing the volume of residential construction in Israel. The government decided, inter alia, to publish a federal RFP (request for proposal), containing the threshold requirements […]

Business Leadership

To be or not to be a director?

Investors, whether angels, VCs or corporates, typically demand a seat on the board of directors of their target company in return for their investment. However, it is important to remember that directors in Israeli companies have obligations as well as rights. They have a duty of care, a fiduciary duty and a duty of disclosure […]

Latest Briefings

Food & Drink Update – September 2020

Guidance on the latest food and drink rules, including post-furlough planning and workforce measures manufacturers, Brexit and the workforce – how to prepare for upcoming changes, protecting innovation in the food & drink industry, and more.

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

Recommended

IEA Brexit Briefing

William Fry is hosting an Irish Exporters Association Brexit Briefing this Thursday, 28 July from 7:30am-11.30am. Keynote speakers will include Dominic Chilcott, British Ambassador to Ireland and Rory Montgomery, Second Secretary General, Department of An Taoiseach.

Gateley wins Angelmist battle

Gateley Plc’s Corporate Recovery team has delivered an important victory for Angelmist Properties Ltd (in liquidation) and its liquidators Ian Richardson and Kevin Hellard of Grant Thornton UK LLP, securing a finding of negligence and an interim payment award of £12.15m against Angelmist’s former directors. The Gateley team comprised Mark Wilson, Legal Director Fiona Emms […]

Debevoise advises Evercore in transfer of ownership

Debevoise & Plimpton is advising Evercore in the transfer of control of its Mexican private equity business, Evercore Mexico Capital Partners (EMCP), to Glisco Partners, a new entity formed by the EMCP principals. Glisco will assume all responsibility for management of the existing EMCP funds, which currently manage $266m of invested capital. The Debevoise team is […]

Freshfields and Slaughters team up with US firms on Softbank’s £24bn ARM purchase

Freshfields Bruckhaus Deringer and Morrison Foerster are advising Softbank Group on the proposed £24bn acquisition of ARM Holdings, represented by Davis Polk & Wardwell and Slaughter and May. Freshfields corporate partners Ben Spiers and Stephen Hewes have been advising Japanese telecommunications company Softbank from London, alongside MoFo Tokyo managing partner Ken Siegel and London head of […]

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