Adv. Doron Levy Addresses the Challenges and Importance of International Taxation for Israeli Businesses
International taxation is a complex and critical business issue in today's globalized world. The ever-evolving landscape of international financial transactions necessitates expert guidance and Adv. Doron Levy, a distinguished senior partner at Amit, Pollak, Matalon & Co., is here to provide insights and solutions. With over 25 years of experience, Adv. Doron Levy heads the firm's Tax and Class Action departments and is a renowned expert in international taxation. Lawyer Doron Levy shares his thoughts on the current trends and challenges in international taxation and their implications for Israeli companies.
Adv. Levy emphasizes the importance of international taxation, stating, "International taxation presents quite a few challenges. Israeli companies must know the issue's importance and act accordingly."
He identifies key trends in international taxation, such as the ongoing economic globalization that compels businesses to operate across multiple countries. Adv. Doron Levy explains, "This trend makes it difficult for governments to monitor business activity and makes it necessary to adjust tax laws." Additionally, he highlights the pressure countries exert to combat tax evasion and profit shifting to tax havens through international agreements like the OECD's BEPS Project.
For Israeli businesses operating across borders, understanding international taxation is paramount. Adv. Doron Levy elaborates, "The fact that it operates in two different sovereign systems and two separate tax systems creates a special taxation complexity. This international activity makes it necessary for businesses to understand the tax laws of the countries in which they operate."
In the face of these challenges, Lawyer Doron Levy recommends seeking the guidance of international taxation experts to ensure compliance with the tax laws of the countries in which businesses operate and to avoid increasing tax liabilities. Accountants are crucial in helping companies submit accurate tax reports and providing advice on financial and business matters.
As for the future of international taxation, Adv. Levy anticipates ongoing pressure from G7 countries to enact legislation that prevents profit shifting to tax havens. He also notes a growing focus on cryptocurrencies by tax authorities, including Bitcoin and Ethereum.
In conclusion, Adv. Doron Levy sends a clear message to business owners, "My message to business owners is – they need to be aware of the importance of international taxation. International businesses need to understand the tax laws of the relevant countries and take the necessary steps for dealing with the challenges in this area."
With his extensive experience and deep expertise in international taxation, Adv. Doron Levy is a valuable resource for businesses navigating the complex world of global finance. For more information or expert advice, please contact Amit, Pollak, Matalon & Co.'s Tax Department.
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