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Israel has the 4th lowest tax wedge among the 34 OECD member countries. The average single worker in Israel faced a tax wedge of 20.5% in 2014 compared with the OECD average of 36.0%.
Business brief. Overcoming the challenges of an arid climate and scarce natural water reserves has always been a vital necessity for the growth of Israel’s population and economy since the founding of the state. This has led to continuous improvements in Israel’s water sector, through innovations in technologies, practices and long-term plans.
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This country note from Going for Growth 2015 for Israel identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
In 2013, Israel’s net ODA amounted to USD 202 million, representing an increase of 2% in real terms over 2012. The ratio of ODA as a share of GNI remained stable at 0.07%.
Institutional investors (investment funds, insurance companies and pension funds) are major collectors of savings and suppliers of funds to financial markets. Their role as financial intermediaries and their impact on investment strategies have grown significantly over recent years along with deregulation and globalisation of financial markets.
This publication provides a unique set of statistics that reflect the level and structure of the financial assets of institutional investors in the OECD countries, and in the Russian Federation. Concepts and definitions are predominantly based on the System of National Accounts. Data are derived from national sources.
Data include outstanding amounts of financial assets such as currency and deposits, securities, loans, and shares. When relevant, they are further broken down according to maturity and residency. The publication covers investment funds, of which open-end companies and closed-end companies, as well as insurance corporations and autonomous pension funds. Indicators are presented as percentages of GDP allowing for international comparisons, and at country level, both in national currency and as percentages of total financial assets of the investor. Time series display available data for the last eight years.
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The tax burden in Israel increased by 0.9 percentage points from 29.6% to 30.5% in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Israeli standard VAT rate is 18%, which is below the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.
In 2013, 16 900 people immigrated to Israel under the Law of Return (excluding returning citizens and residents), an increase of 2% over the previous year.
This publication highlights new evidence on policies to support job creation, bringing together the latest research on labour market, entrepreneurship and local economic development policy to help governments support job creation in the recovery. It also includes a set of country pages featuring, among other things, new data on skills supply and demand at the level of smaller OECD regions (TL3).
This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Israel.
The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by over 120 jurisdictions which participate in the work of the Global Forum on an equal footing.
The Global Forum is charged with in-depth monitoring and peer review of the implementation of the standards of transparency and exchange of information for tax purposes. These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commentary as updated in 2004, which has been incorporated in the UN Model Tax Convention.
The standards provide for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. “Fishing expeditions” are not authorised, but all foreseeably relevant information must be provided, including bank information and information held by fiduciaries, regardless of the existence of a domestic tax interest or the application of a dual criminality standard.
All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are being reviewed. This process is undertaken in two phases. Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework. Some Global Forum members are undergoing combined – Phase 1 plus Phase 2 – reviews. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.
Country notes outlining regional variations in health, jobs, safety, environment, access to services, civic engagement, housing, education, income, and employment. These notes are from the OECD publication "How's Life in Your Region?".