What does the law state in regards to benefit value of company events that were held and financed by the employer?Generally, in cases where the "best interests of the employer" overrides the "best interests of the employee", the employer will not charge any value from employees who participated in the activity.
A foreign expert is employed at a high salary due to the lack of experts with the unique knowledge he brings with him, while foreign workers are employed in Israel for low salary and in occupations that are not favored by the country's citizens.
Following the publication of the extension order for comprehensive pension insurance in the economy, as of 2008, the employer is obligated to insure every employee in pension insurance/ insurance management.In addition, the employer is obligated to contribute to the severance pay fund of the employee.
A worker who is on maternity leave (a.k.a. birth and parenthood period) does not receive a salary from her employer.As a substitute for her salary, she is entitled to maternity allowance from the National Insurance Institute, which serves as compensation for her loss of income during the period in which she did not work due to birth.
By law, employees are entitled to a salary payment that is not less than the minimum wage in force in the State of Israel and is updated from time to time.On December 1st, 2017, the minimum wage was increased from 5,000 NIS to 5,300 NIS for a full-time job.
As from April 1st 2018, an extension order was signed for shortening the work week.
On October 30, 2018, elections will be held for local authorities and regional councils.The day of the elections will be considered a holiday within the boundaries of the authorities and councils in which the elections are held.
While the concept of U.S. sales tax is similar to Israeli VAT regulations, the actual implementation and definitions are vastly different. For starters, unlike VAT which falls under one tax jurisdiction in Israel, sales tax in the U.S. is imposed on a state by state basis other than in the four states which do not impose sales tax at all (Delaware, New Hampshire, Montana and Oregon).
On 25 May 2018 the General Data Protection Regulation ("GDPR") will come into effect, replacing the EU Data Protection Directive with new, sweeping legislation, fundamentally changing EU law with regard to protection of personal data.
Due to the fast evolving legislation surrounding economic nexus and sales tax, we have put together the below summary to get you up to speed on the recent changes that may affect your business's compliance.
Franchise tax is a tax charged by some US states to corporations with a nexus (aka a filing obligation) with those states. The common feature of a state's franchise tax is that it is not based on income. Rather, the typical franchise tax calculation centers around the "net worth" of the taxpayer.