International Tax Accountant in Herzliya

Who Needs an Accountant with International Taxation Experience in Herzliya?

If you are engaged in business in Herzliya with overseas activities, or you are an employee who received foreign-source income, or are a business owner in Israel with foreign partners or overseas expenses — you are exactly our target audience. International taxation is a field that not every accountant handles at a level that accounts for the real complexities.

Ben Or Kook advises entrepreneurs, freelancers, and companies in Herzliya that have an international dimension. Whether you are manufacturers who export, traders who purchase from abroad, professionals with overseas clients, or a new immigrant who still holds assets abroad — we handle these matters like any other accounting matter: precisely, carefully, and without unnecessary complications.

What is International Taxation and Why It Matters for Business Owners in Herzliya

International taxation means: your income or your company's income is not limited to Israel. You may have foreign-source income, own assets abroad, or your company may work with foreign clients. All of this affects the tax you owe in Israel.

The first thing that is important to understand: Israel imposes tax on residents of Israel on worldwide income. This means that if you are a resident of Israel — whether your income is from Israel or from abroad — you are required to report everything to the Israeli tax authority. If you are a exempt business owner or licensed business owner in Herzliya and you have foreign-source income, things get a bit more complicated. If you own a private company — even more so.

But this is not just a problem. It is also an opportunity. Because if you report correctly, you can avoid "double taxation" — which is exactly what it sounds like: paying tax twice on the same income, once in Israel and once abroad. This is why tax treaties exist, which Israel has signed with other countries.

FBAR and Foreign Asset Reporting — What Every Business Owner Needs to Know

If you have a bank account abroad, investments abroad, or even ownership in a foreign company — you must report it to the Israeli tax authority. This report is called an "FBAR" (Foreign Bank Account Report) or "Foreign Assets Report."

The important point: this is not something you do "if you want to." It is a legal obligation. And if you do not report — it can result in a substantial penalty. Most of our clients in Herzliya who have assets abroad either do not report independently or report incorrectly. This is exactly where an accountant who understands international taxation pays for itself.

New Immigrants and Foreign Residents — Special Tax Status in Herzliya

A new immigrant who arrived in Israel in the past year or current year may enjoy a certain tax exemption on foreign-source income. This is called the "Returning Resident Exemption." But it is not automatic — you need to submit a request, and you need to meet certain conditions.

We work with new immigrants in Herzliya who have businesses or investments abroad, and we ensure they receive the exemption they are entitled to. This is another thing that not every accountant handles in a way that maximizes benefit for the client.

Steps in International Taxation Advisory — How We Work

When you contact us in Herzliya with a question about international taxation, our process is straightforward and clear:

1. Situation Mapping: We ask precise questions about your income, foreign assets, countries where you have connections, and the type of your activity (exempt business owner, licensed business owner, private company). This is not just a brief conversation — it is a conversation that addresses details.
2. Treaty Review and Reporting: We check whether there is an international treaty between Israel and the country where you have income or assets. This directly affects how much tax you are required to pay.
3. FBAR Report Preparation and Asset Reporting: If you have assets abroad, we report them as required, so you stay on the right side of the tax authority.
4. Future Tax Planning: We don't just handle the past — we plan for next year. If you're a business owner in Herzliya with international income, we check whether you need to pay tax advances, and we help you understand how much it may cost.
5. Annual Report and Audit: Each year, we prepare an annual report containing all required reports — standard annual report, FBAR report, foreign asset report, all in accordance with Israeli tax authority requirements.

Common Mistakes We See in Herzliya

When we meet new business owners in Herzliya with an international dimension, there are several recurring mistakes:

• Failure to Report Foreign Assets: "It's just a bank account, we don't think we need to report it." That's exactly the mistake. Every foreign asset must be reported.
• Ignoring Tax Treaties: Business owners who pay tax abroad don't understand they have the right to a tax credit in Israel. This can save significant money.
• Incorrect Calculation of International Income: When income is in dollars or euros, you must convert at a certain rate. Many business owners do this at a rate that isn't always correct.
• Forgetting FBAR in the Annual Report: Your annual report must include an FBAR declaration. If it's missing — that's a problem.
• Misunderstanding New Immigrant Tax Exemption: New immigrants in Herzliya often don't apply for new immigrant tax exemption, or apply incorrectly, and miss out on taxes they shouldn't have paid.

Back to the first question: Why Ben-Or Kook in Herzliya?

We are not just accountants. We are accountants who understand the complexities of international taxation, and we work in Herzliya and its surroundings (Ramat Gan, Petah Tikva, the center). If you operate in Herzliya with income from abroad, or you are a new immigrant with foreign assets, or you are a business owner with foreign partners — you are exactly who we help.

What sets us apart:

• Experience: We handle international taxation like any other accounting matter. It is not something we do "also," it is something we do in a way that takes the details into account.
• Digital service: You do not need to come to our office in Herzliya to handle your matters. We work digitally, and it is much simpler.
• Free initial consultation: If you are not sure exactly what you need, we invite you to an initial meeting where we explain the situation to you, with no obligation.
• Conversation in your language: If you are an English speaker or speak another language, we can communicate with you in your language. This is important when discussing international taxation.

A real-world example: A Herzliya business owner with foreign operations

One of our clients in Herzliya is a licensed business owner who exports products to Europe. His income comes partly from Israel and partly from abroad (Euros). Initially, he did not report foreign income accurately, nor did he report a bank account he opened in Germany to receive payments.

When he came to us, we conducted a comprehensive mapping of his situation. We discovered that he was entitled to a tax credit in Germany for taxes already paid there. We handled the FBAR filing for the German bank account and reported the income correctly. The result: he avoided a penalty and also received a tax refund because he had overpaid taxes abroad.

This is exactly the type of problem that an accountant with international taxation experience can solve.

When to contact us

If you are in Herzliya and starting a business with foreign operations — you should contact us immediately. Do not wait until the end of the year. You should also contact us if you have been operating for several years and you are not sure if you have reported foreign income or foreign assets correctly.

If you are a new immigrant in Herzliya — you should contact us to find out if you are eligible for the new immigrant exemption, and if so, how to submit the request correctly.

If you are a business owner in Herzliya with foreign partners or foreign expenses — you should contact us to ensure that your reporting meets the standard and that you are not paying more tax than required.

What exactly needs to be reported in your annual tax return when you have international taxation

Your annual tax return to the Israeli Tax Authority must include several important items if you have income or assets abroad:

• Reporting foreign income: Any income you received from abroad, whether from employment, self-employment, or investments. You must report this in your annual tax return.
• FBAR reporting: If you have a bank account abroad or investments abroad, you must report this in a separate report called an FBAR report.
• Reporting taxes paid abroad: If you paid taxes abroad on foreign income, you may be eligible for a foreign tax credit in Israel. This should appear in your tax return.
• Reporting exchange rates: If your income is in dollars or euros, you must convert it to shekels at a specific rate. We use the official rate of the Bank of Israel.

If you are a licensed business owner or exempt business owner in Herzliya — this reporting must be part of your annual tax return. If you own a private limited company — this must be part of your financial statements.

Costs and ranges — what to expect

We do not quote a fixed price for assistance with international taxation, because every case is different. A business owner in Herzliya with a foreign bank account and minimal foreign income — that's one thing. A private limited company with foreign partners and foreign business activity — that's something entirely different.

What we do offer: we provide a clear assessment once we have mapped out your situation. And each case is examined on its own merits.