A selection of Globes articles by Dr. Avi Nov
For foreign assets, Big Brother really is watching
The Israel tax authority is connected to many databases, and collects information about us daily. One of those databases is on the main computer of Border Control. The Israel Tax Authority has concluded that if you travel overseas a lot, or spend a lot of time there, you apparently have income or assets abroad, which are subject to reporting and income tax requirements.
Campaigns by the Israel Tax Authority to find tax evaders in recent months have uncovered the huge scale of tax evasion in Israel, which requires new thinking and a change in perception about the issue. When the tax burden is high because of the need to fund unnecessary government spending, a country's citizens will try to reduce their tax liability in any way possible. This is ethically rational and justifiable conduct.
Cut taxes, and they will come
Tel Aviv has what it takes to be a world financial center, but government and regulators must play their part. In addition to a reduction in tax rates on businesses, the vision of upgrading Tel Aviv to a financial center depends especially on vital changes in Israel's tax laws, which are not a favorable environment for attracting investment in general, and financial institutions in particular
