International Tax Accountant in Kfar Yona

Who Needs an International Tax Accountant in Kfar Yona?

International taxation is not something you can resolve on your own. If you have foreign income — whether it's a mortgage you held abroad, ownership in a foreign company, self-employment work abroad, or even tax obligations in two countries — you need someone who knows the rules.

Most clients we see in Kfar Yona and the central region are:

• New immigrants who have recently settled in Israel and need to understand how to report foreign income or assets abroad.
• Freelancers and companies who have foreign clients or suppliers, or who operate a digital business that crosses borders.
• Employees who received grants abroad, investment income, or purchased property abroad.
• Portfolio holders with investments abroad who need to be aware of reporting and tax obligations.

The problem is that many of them don't know they are required to report, or they reported incorrectly. In short — it's complicated, so it's worth starting with a consultation from someone who knows.

What Are the Basic Rules of International Taxation in Israel?

In Israel, if you are an Israeli resident — you are required to report all your worldwide income, both in Israel and abroad. This is not optional, it is the law.

The Israeli Tax Authority requires reporting on:

• Employment income from abroad (salary, commissions, bonuses).
• Self-employment income from abroad (freelance work, partnerships, foreign companies).
• Income from assets — dividends, interest, capital gains from assets abroad.
• Assets abroad in the annual report — if the value exceeds a certain threshold.
• FBAR reporting (if you have a bank account abroad) — this is a separate report to the Tax Authority.

One point that is not always clear: if you are taxed both abroad and in Israel on the same income, there is usually a tax credit or deduction in Israel to prevent double taxation. But you need to know how to calculate this correctly.

New Immigrants and Special Tax Benefits

If you immigrated to Israel within the past two years, you may be eligible for an immigration certificate and special tax benefits. This changes the entire calculation.

For example, a new immigrant to Israel may be exempt from tax on foreign income for a certain period, under certain conditions. This depends on the type of income, the date of immigration, and proof of a connection to Israel. If you are a new immigrant in Kfar Yona or Ramat Gan — this is something a professional must review, as it can save you a lot of money.

FBAR Reporting — What Is It and Who Must File?

If you have a bank account abroad with a balance exceeding $10,000 at any point during the year — you are required to report this to the Israeli Tax Authority. This is called FBAR reporting (Foreign Bank Account Report).

This report is separate from your regular annual tax return. It includes account details, bank name, account number, and monthly balances. If you did not file — it could become a problem with the Tax Authority.

What is important to remember: FBAR reporting does not mean you pay additional tax on the money in the account. It is simply a report of the account's existence. But if you have income from this account (interest, dividends) — then yes, that is subject to tax.

Self-Employed Individuals and Companies with International Activities — Tax Planning and Reporting Obligations

If you are self-employed or own a company in Kfar Yona with clients abroad or income from international activities, you need to plan this in advance, not after the year has ended.

For example, a self-employed person selling digital services to clients in Europe needs to know:

• How to report this income in Israel (in an annual report or advance tax payments).
• Whether you need to report VAT abroad or in Israel (this depends on the type of service and the client's location).
• How to calculate foreign expenses (such as foreign employee wages, purchase of goods) and whether they are deductible in Israel.
• Whether there is a foreign agreement that affects taxation in Israel (such as a tax treaty between Israel and another country).

A company with foreign owners or managing international activities needs an annual report that describes all of this correctly. Without this, the tax authority may ask difficult questions, and then it becomes expensive and protracted.

Tax Treaty and Foreign Tax Credit — How Does It Work?

If you are liable for tax both in Israel and abroad on the same income, there is usually an agreement between the two countries called a tax treaty. This agreement is designed to prevent double taxation.

Essentially, this means you can take the tax you paid abroad and apply it as a credit in Israel (or vice versa). However, you need to know how to calculate this correctly — the tax amount, type of income, whether there are limitations — it all matters.

Most of our clients with foreign income do not know they are entitled to a foreign tax credit. This is exactly where an accountant who understands international taxation can save you money.

E-Commerce and Startups — What Do You Need to Know About International Taxation?

If you are running an e-commerce business selling to customers abroad, or you are a startup with international investors, the situation is somewhat different.

An e-commerce business needs to report income from every country where it has customers, and in many cases must report VAT in every country. This is complicated, which is why most business owners in this situation work with an accountant who understands the subject.

A startup with investors abroad needs to report financial relationships with foreign entities, and in many cases must update the tax authority on the company's valuation for tax purposes. This is important to avoid problems in the future, when raising additional capital or selling the company.

Common Mistakes in International Reporting — How to Avoid Them?

In recent years, we have seen many cases of incorrect international reporting. Here are some recurring mistakes:

• Failure to report foreign bank accounts — Many people don't know they are required to report FBAR. When the tax authority discovers this, it becomes a problem.
• Incorrect calculation of foreign tax credits — People pay taxes abroad and in Israel, but they don't know how to calculate the credit correctly. The result is overpayment or issues with the tax authority.
• Failure to report foreign income — Self-employed individuals who receive money from abroad sometimes think they don't need to report it. This is incorrect.
• Improper use of new immigrant rights — New immigrants sometimes misuse their rights, or they don't know these rights exist at all.
• Failure to report foreign assets — If you have property, a bank account, or investments abroad, you must report it in your annual report. If you haven't reported it — it can be a problem.

What's important to remember: The Israeli tax authority is increasingly active in examining international reporting. If you have any doubt — it's better to consult with an accountant who knows the subject before it becomes a problem.

Our Work Process — Starting with Your First Meeting

When you come to your first meeting with Ben Or Kook in Kfar Yona, we start with questions:

1. What type of income do you have? — Employment, self-employment, investments, assets?
2. Where do you have income? — In Israel only, or also abroad?
3. Do you have assets or accounts abroad? — Bank accounts, real estate, investments?
4. Have you reported before? — If yes, how did you do it, and if not — why?
5. What is your goal? — Tax planning, compliance, saving money?

Based on these answers, we build a reporting and accounting plan that suits you. If we need to correct old reports — we help with that. If we need to start from scratch — we start from scratch.

In short, the first consultation meeting is free of charge, and in it we understand your situation and the next steps.

Why choose Ben Or Kook for international tax guidance in Kfar Yona?

If you are in Kfar Yona, Ramat Gan, or the central region and need guidance on international taxation, we are here for you. Ben Or Kook is an accounting firm that specializes in guiding self-employed individuals, companies, and employees in complex accounting and financial matters.

What sets us apart:

• Deep knowledge of international taxation — We work with new immigrants, self-employed individuals with foreign clients, companies with foreign owners, and startups with international investors.
• Personal service — We are not a robot. When you come to us, you speak with a real accountant who understands your situation.
• Digital service — You can work with us from home, send documents digitally, and receive real-time updates.
• Availability — We are available for questions and reports. If something is urgent, we are here.
• Free initial consultation — We believe it is worth getting to know each other first. In the first meeting, we understand your situation and propose a work plan.

If you are in Kfar Yona or the surrounding area and have questions about international taxation — feel free to contact us. We are here to help.