Israel: Entorn econòmic
Social security contributions paid by the employer for Israeli-resident employees are 3.55%, up to a monthly income of ILS 7,122 and 7.6% on the difference between ILS 7,122 and the maximum monthly income of ILS 47,465. For non-resident employees, lower rates apply: 0.59% up to a monthly income of ILS 7,122 and 2.65% on the difference between ILS 7,122 and the maximum monthly income of ILS 47,465.
Non-profit organizations are subject to a tax of 7.5% of payroll in lieu of VAT. A similar tax is levied on financial institutions, at a rate of 17%.
Israel | Middle East & North Africa | United States | Germany | |
Number of Payments of Taxes per Year | 6.0 | 20.8 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 234.0 | 204.0 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 25.3 | 32.1 | 36.6 | 48.8 |
Source: Doing Business, Latest available data.
Personal income tax rates | Progressive rates from 10% to a maximum of 50% with tax credit points to reduce payable taxes. |
NIS 1 to 81,480 | 10% |
NIS 81,480 to 116,760 | 14% |
NIS 116,760 to 187,440 | 20% |
NIS 187,440 to 260,520 | 31% |
NIS 260,520 to 542,160 | 35% |
NIS 542,160 to 698,280 | 47% |
Over NIS 698,280 | 50% (including the 3% surtax) |
Annual tax for passive income (i.e. business rentals) | 31% to 47% |
From ILS 1 to 260,520 | 31% |
From ILS 260,520 to 542,160 | 35% |
Above ILS 542,160 | 47% |
Interest: 23% for interest payments to a resident or non-resident recipient that is a “body of persons”/Interest paid to a resident individual: 20% on interest paid by a provident fund; 25% on bank interest; 35% on interest paid on debentures or government bonds issued before 8 May 2000 (conditions apply); 47% where the recipient of the interest at the time of receipt of the interest or at any time during the preceding 12 months held at least 10% of the shares of the payer, is an employee of the payer, or provides services or sells products to the payer.
Royalties: payments made to resident entities and individuals are subject to withholding tax at 20% where the recipient can demonstrate that it maintains books of account and has filed returns; otherwise, the rate is 30%. Payments to non-resident companies: 23%. Payments to non-resident individuals: 25%.
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Actualitzacions: November 2023