• Fri. Mar 1st, 2024

Urgent Call for Implementation: The Chamber of Auditors Urges Tax Administration to Reconsider Delay in Anti-Evasion Mechanism

ByEditor

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

The Chamber of Auditors has called for the Tax Administration to delay the implementation of a mechanism designed to combat tax evasion and fictitious receipts until 2025. The pre-reservation of tax receipts for transactions over NIS 25,000 was supposed to take effect on April 1, 2024.

The Chamber of Auditors believes that the delay is necessary due to the ongoing war, which has affected reservists and evacuees. Their businesses have already suffered, and they cannot afford any additional bureaucracy. The statement warned that if the decision to postpone is not made, unprecedented measures may be taken.

The mechanism was intended to help combat tax evasion and ensure that all receipts were properly recorded. However, without pre-reserved numbers, receipts will not be taken into account when writing off VAT. This could create problems for businesses that rely on accurate records to manage their finances.

The Chamber of Auditors emphasized the importance of implementing this mechanism as soon as possible to combat tax evasion and ensure compliance with tax laws. They urged the Tax Administration to reconsider its decision and implement the mechanism as planned.

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