• Sat. Feb 24th, 2024

Chamber of Auditors Urges Delay in Implementation of Pre-Reservation of Tax Receipts Amid Ongoing War: Risks Unprecedented Measures for Businesses

ByEditor

Feb 12, 2024
Auditors Chamber of Israel warns of ‘unprecedented actions’

The Tax Administration has been urged by the Chamber of Auditors to delay the implementation of pre-reservation of tax receipts for transactions worth more than NIS 25,000 until January 1, 2025. The mechanism was designed to combat tax evasion and the use of fictitious receipts. However, it will not recognize receipts that do not have a pre-reserved number when writing off VAT. Originally, it was set to take effect on April 1, 2024.

The Chamber of Auditors cited ongoing war as the reason for the delay. Reservists and evacuees have already suffered greatly from their businesses, and they cannot handle any additional bureaucracy. The statement warned that unprecedented measures would be taken if the decision to postpone is not made.

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