Tax Alert: Cost-Plus Taxpayers? Amend Your Tax Return, or Else…
Oz Halabi and Eran Shif
On December 13, 2018, the Israeli tax Authority issued a public announcement demanding from certain taxpayers to file amended tax returns, with respect to previous years, where such taxpayers adopted a cost plus transfer pricing method.
The announcement includes an explicit warning that the relevant taxpayers who will not amend their previous years’ tax returns are exposed not only to higher income tax adjustments, but also in certain cases, to penalties.
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