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Auditors Chamber of Israel warns of ‘unprecedented actions’

The Tax Administration has been urged to delay the implementation of a mechanism aimed at combating tax evasion and fictitious receipts until 2025 by the Chamber of Auditors. This was to be effective from April 1, 2024. However, the Chamber believes that the ongoing war is causing significant disruptions for reservists and evacuees, who have already suffered enough. Their businesses have been negatively impacted and they cannot handle any additional bureaucracy at this time.

The mechanism, known as pre-reservation of tax receipts for transactions over NIS 25,000, was designed to ensure that all receipts were properly documented and accounted for in order to prevent fraudulent activity. Without a pre-reserved number, VAT write-offs would not be taken into consideration. The delay in implementation has caused confusion among businesses and has resulted in frustration for those who have already implemented the mechanism.

The Chamber of Auditors warned that failure to postpone the implementation could result in unprecedented measures being taken. It is important that the government takes into account the needs of its citizens during these challenging times and ensures that any new regulations are implemented in a way that is fair and just for all parties involved.

By Editor

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