חוק מס ערך מוסף (תיקון מס' 55), התשע"ז-2017Value Added Tax Law (Amendment No. 55), 2017 · automatic translation · suggest a correction

Official summary of the law (Knesset)

The Value Added Tax Law (Amendment No. 55), 2017 (hereinafter - the Amendment), was passed in second and third reading on 30 January 2017. Sections 67A and 69A of the Value Added Tax Law, 1975, establish special provisions regarding the submission of a detailed periodic report by an individual whose turnover of transactions exceeds 2.5 million new shekels, as well as companies and dealers whose turnover of transactions exceeds 1.5 million new shekels. Currently, the law provides that the report shall be submitted for a monthly period within 15 days after the end of that month. A temporary provision of the law stipulated that during the period from 13 February 2014 to 31 December 2016, the detailed report would be submitted as a separate special report, in addition to the periodic report, in order to examine the performance of the detailed reporting system. Under the temporary provision, the special report had to be submitted within 15 days of the date of submission of the periodic report, i.e. up to 30 days after the end of the report period. The temporary provision expired at the end of 2016, and upon its expiration, dealers obligated to submit detailed reports were expected to submit the detailed report as a periodic report, within 15 days of the end of the report period. The Amendment extended the period in the law for submitting a periodic report to 23 days (instead of 15), and its effective date is set as 1 January 2017.

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