What threatens business with tax evasion in Israel

How many people know that with the correct accounting of expenses, with the application of all the appointed benefits laid, all “nikudot zikuy”, an entrepreneur may not have a shekel of taxes to pay at all. Israel has created all the necessary conditions for fair taxation.

How many people know that with the correct accounting of expenses, with the application of all the appointed benefits laid, all “nikudot zikuy”, an entrepreneur may not have a shekel of taxes to pay at all. Israel has created all the necessary conditions for fair taxation.

But illegal manipulations with taxes and concealment of income are punished very severely.

How tax authorities identify violators.

The most common situation: the client did not receive a payment document. He reports this to the tax authorities. The tax is being checked by the entrepreneur. This happens especially often if the buyer was dissatisfied with something, but the seller did not want or could not resolve the problem.

Another example is a disgruntled employee who, in revenge, gives off violations of the employer to the tax authorities.

There are situations when the owner is forced to answer for the fraud of his employees. Unfortunately, the fiscal authorities do not understand who is to blame for the fraud. Responsibility in any case is on the entrepreneur.

Sometimes, tax authorities randomly select and analyze annual business reports and declarations of property of the entrepreneur himself, and also check the compliance of family income and expenses. If there are obvious inconsistencies: if the profit is at the level of the average salary in the country, and the owner buys new elite housing, then serious checks await the entrepreneur.

What may happen if fiscal authorities reveal tax evasion

If an entrepreneur is caught by accidental or deliberate concealment of income, then the tax authorities can show him virtually any amount that he could theoretically earn and demand to pay taxes on this estimated amount.

Taxes will be calculated at the maximum rate. No benefits, which could be counted on in a normal situation, can be applied to these “penalty taxes”.

If a tax audit reveals systematic violations in accounting, the regular concealment of large incomes, this can result not only in huge fines, but also lead to the opening of a criminal case for violation of Israeli tax law. The result is a prison and property confiscation.

The entrepreneur falls … Read more

How to start business in Israel

It is obvious you need to be ready for the start of any size of business: to study competitors and potential contractors, analyze the prospects for profitability, ideally prepare a business plan, choose the legal form, if you need employees to evaluate the size of the salary fund and terms of employment.

It is obvious you need to be ready for the start of any size of business: to study competitors and potential contractors, analyze the prospects for profitability, ideally prepare a business plan, choose the legal form, if you need employees to evaluate the size of the salary fund and terms of employment. Already at the preparatory stage, starting businessmen should look for lawyers in Israel https://pz-law.co.il/en/.

What is Hevra Baam?

Hevra Baam – a limited liability company, may belong to several owners, has several advantages and disadvantages, in comparison with Esek Patur and Esek Murshe. One of the advantages is that, for example, in Esek Patur and Esek Murshe, the owner is personally liable for the financial obligations of his business, but in Hevra Baam, the founders are not liable for the debts of the company (except for cases of purposeful fraud). A definite negative side is the cost of maintaining Hevra Baam, which can be 25-30 thousand shekels per year. These are expenses for accounting and legal support and other services. According to experts of Hevra Baam, it is advisable to start with the yearly income of 350-400 thousand shekels.

Why does a business needs a lawyer at the start?

Here are some of the most common examples when a business cannot do without legal services:

• If the registration of Esek Patur and Esek Murshe can still be managed independently, then the participation of a lawyer in the opening of Hevra Baam is a legal requirement.

• A competent regulatory framework should be developed from the business side of the company, which will ensure the legitimacy of business relationships at various levels and will help to avoid legal pitfalls in the future.

• Few businesses do without contractors. And if the management can agree on beneficial terms of cooperation in words, then lawyers should correctly reflect these favorable terms in the contracts, write down the terms, payment terms and many other issues, right up to the termination of cooperation.

• As the experience of many employers shows, it is very important to clearly state the … Read more

How much easiness Product Boxes can carry for your shopping

Product boxes are extremely efficient and useful in handling various types of products and you can use these product boxes to make your place well organized by keeping your items packed in these printed product boxes. By employing these printed product boxes, you can easily avoid mess up and keep all your items under control and easily accessible. Especially if you are dealing with the product or items which are smaller in size, you need to store them properly and make them contained in wholesale product boxes so that all the items can remain perfectly organized and immediately accessible when needed. If your products are not properly packed in custom product boxes, you will find your items scattered across the shelves and counters, also, you may find several of your products falling down and getting damaged causing you the significant loss and all this will be happening to you just because your products are not properly packed in suitable product boxes.

Highly Beneficial For All Sorts Of Businesses

No matter which type of business or trade you are doing and how big or small your business is, these printed product boxes are highly suitable and beneficial for your packaging needs. These wholesale product boxes are available in various sizes and shapes and even if you are trading very small or extremely huge products, you can easily find the suitable custom product packaging for you which will meet all your packing and shipment needs in a much efficient manner.

Whether you are doing the business locally or you need to ship your product or items to other cities or even foreign countries, you can incorporate these custom product boxes to hold your products as they are perfectly capable of your items throughout all sorts of journeys. The main thing is that you should choose the right custom boxes for your products which is perfectly capable of meeting all your packing, shipment and safety related needs. There is a huge variety of these product boxes available out there and you can easily find such printed product boxes which are an ideal choice for wrapping or shipping your products.

Enhanced Convenience And Increased Mobility

The wholesale product boxes add a lot of comfort and relaxation to your life because of the fact that when you wrap or pack your products in product boxes packaging, your items become very easy to carry and … Read more

Fraud and Chargeback Guarantees: American Express Chargeback

Losses of eCommerce payment processing fraud are mounting. Fraud guarantees are increasingly becoming popular. No matter you’re interested in an American Express chargeback or reliable fraud prevention techniques, a respectable processor can help you with all this. To know more, just keep on reading below.

Never-Ending Fraud: What Do Numbers Show?

According to Al Pascual, Javelin Strategy & Research’ssenior vice president and head of research, card-not-present (CNP) fraud is still on the rise. Merchants can devote more time and efforts year after year to combat fraud and deal with chargebacks. Another option is to pass that responsibility to someone else.

Juniper expects the US and Asia will represent 80% of CNP fraud by 2021. According to Thomson Reuters,fraud “steals” over 7% of merchants’ annual revenue, and fraud types range from ID theft to data breaches.

Before you’d start deploying a fraud counterstrategy, it’s important to carry out thorough proprietary risk audits. Otherwise, you won’t be able to reveal your unique threat exposures.

What about the chargeback guarantee model (CBG) in fraud detection? Well, CBG ensures the fraud solution provider guarantees to pay the chargeback costs for any transaction they recommend to acceptthat results in a chargeback due to third party fraud.

Another feature of the CBG model implies that the merchant gives up visibility control and puts a limit on merchants’ ability to gain deeper insights into fraud.

 Fraud Prevention:American Express Chargeback

Bad actors use digital commerce channels to their “advantage.” Cybercrime has turned into a huge problem both for large and small companies worldwide. Did you know that US businesses and consumers have lost over $1.4 billion in 300.000+cyberattacks reported in 2017?This is according to the Federal Bureau of Investigation (FBI).

According to recent research in the field, global fraud losses are anticipated to make up $6 billion by 2021, more than doubling the $3 billion worldwide in 2015.

Reputable payment services providers are going above and beyond to prevent online fraud. Many of them provide merchants with anti-fraud systems to guarantee extra layers of protection against fraudsters. So, if you’re interested in payment processing issues like fraud, American Express chargeback, etc., work with a true professional to equip your eCommerce merchant account with the best utilities. As a result, you can identify and predict patterns of fraud and protect your business to the best.

Look for a respectable credit card processing company that offersan alert system to … Read more