Israel Enters Into Tax-Sharing Deal With US

Law360, San Diego (May 01, 2014, 10:52 PM ET) -- Following dozens of other countries, Israel has reached an agreement with the U.S. under an information-sharing law intended to combat offshore tax evasion, a U.S. Department of the Treasury spokesperson said Thursday.

The U.S. entered into an agreement “in substance” with Israel under the Foreign Tax Account Compliance Act that will allow financial institutions in Israel to report information on U.S. account holders to their government, which will then report it to the U.S. Internal Revenue Service. The agreement must be signed by the end of...
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