Asnin-Dan CPA firm is a boutique firm providing accounting services.
The firm was established in 2003 by accountant David Dan and accountant Eyal Asnin.
In accordance with the vision of the founders, the firm provides guidance and professional solutions to businesses and helps them run
in an optimal way, accounting, financially and with the tax authorities.
An exempt trader is an independent business owner whose annual turnover does not exceed NIS 107,692 in 2023 and the type of business is not part of a list of occupations that cannot be registered as exempt traders, for example, accountants, lawyers, doctors, various consultants, etc.
An exempt dealer does not need to report or pay regularly to the VAT authorities, but only once a year reports all of his income in the previous tax year and assuming that he did not exceed the income ceiling of an exempt dealer, he will not be liable to pay VAT.
An exempt dealer is exempt only from VAT and not exempt from periodic and annual reporting to the Income Tax and National Insurance.
Tax rates in Israel are divided into several types of income:
In today’s global world, the movement of citizens between countries is common, whether it is for the purpose of studies, work, exposure to a new culture, economic reasons, etc. The State of Israel decided to encourage Israelis who left abroad to return to Israel by providing various benefits. In 2008, a comprehensive reform was enacted to provide tax benefits to returning residents and new immigrants.
Three types of returning residents were defined:
The tax benefits provided as part of the reform include, among other things, an exemption from capital gains tax, an exemption from passive income for a period of five and ten years, respectively, for a returning resident with rights, up to an exemption from reporting and a ten-year tax exemption from all income from sand for a long-term returning resident.
