<\/p>\n
Israel\u2019s taxation system has undergone a major reform since 2003. The Income Tax Ordinance was revised as of 2003 pursuant to which an Israeli resident is taxed on worldwide income rather than the previous territorial tax system.\u00a0 The Taxation of Trusts Law (the “Law”), effective as of January 1, 2006, while imposing taxes on Israeli residents with respect to trusts is advantageous to foreign residents. Israel is a major international business and financial center for non-residents.<\/p>\n
The Foreign Settlor Trust and the Taxation Thereof<\/strong><\/p>\n There are a number of categories of trusts under the Law.\u00a0 This article emphasizes the category relevant to foreign residents, the foreign settlor trust. This trust is designed either for non-resident family members who wish to provide for their family in Israel or for foreign residents who wish to appoint an Israeli trustee to manage family assets and wealth.<\/p>\n The conditions required for a trust to be classified as a foreign settlor trust are: (i) the settlor is a non-resident of Israel at the time of formation of the trust and during the tax year; or (ii) the settlor and the beneficiaries are non residents of Israel during the tax year.<\/p>\n A foreign settlor trust is viewed as a foreign resident personally, with the country in which the settlor resides as its place of residence, regardless of whether the trust is classified as revocable or irrevocable. The assets held by the trustee are viewed as though said assets were held by a foreign resident personally. As a result, the income of the trust is regarded as the income of a foreign resident. Trust profits that are not derived from sources in Israel are not taxable in Israel. Further, there are no reporting obligations in Israel.<\/p>\n This tax and reporting exemption relates to income derived from sources such as rental, interest, dividend, capital gains and business profits outside Israel. The foreign settlor trust, in certain cases, may also be exempt from tax on certain income derived from Israel from interest or capital gains as such income may be viewed as income of a foreign resident.<\/p>\n The Underlying Company<\/strong><\/p>\n The Law introduced the underlying company in Israel. This Law provides for the establishment of an underlying company of a trust within Israel or abroad for the purpose of the legal separation between the trustee\u2019s personal assets and the trust\u2019s assets.\u00a0 The company is not established for the purpose of managing an active business but for the purpose of holding assets on behalf of s trustee.<\/p>\n An underlying company is a separate legal entity holding a trust\u2019s assets for the trustee, directly or indirectly. Every entity which possesses assets that are not its own, but belong to the trustee by virtue of a trustee’s duty, fulfills the definition of an underlying company.<\/p>\n The Law provides that this underlying company is regarded as a \u2018flow through entity\u2019. The Israeli Tax Authority is to \u2018look through\u2019 the company and treat the assets and the income derived therefrom as though they were held directly by the trustee.<\/p>\n As the trustee of a foreign settlor trust is not subject to tax or reporting requirements, said trustee may utilize an underlying company, whether in Israel or abroad, to hold the trust\u2019s assets. Neither the trustee nor the underlying company is subject to tax or reporting obligations on the income derived from sources outside Israel. Where the underlying company derives income from sources within Israel, such income is considered earned by a foreign resident. Since income from foreign currency deposits in Israeli banks is exempt from taxes if held by a foreign resident, the underlying company (even if established and managed in Israel) may receive the same exemption. The exemption may also be granted if the income is derived from sources such as capital gains from the sale of securities on the stock exchange which is exempt from taxes if owned by a foreign resident.<\/p>\n The concept of an underlying company is simple and advantageous in constructing the most efficient trust arrangement possible. Until now, settlors and practitioners preferred appointing foreign trustees out of concern that having an Israeli trustee could create tax liabilities in Israel. Following the Law, the place of residence of the trustees will not affect the taxation of the trust. It is the tax status of the beneficiary and the settlor that will determine Israeli tax liability.<\/p>\n This is an important development in Israel. It provides opportunities to both Israeli and overseas trust companies and trust and estate practitioners. The appointment of Israeli trustees is encouraged by the Tax Authority. Not only will it advance the use of domestic professional services, but it will also enable the Tax Authority to communicate directly with trustees. Foreign trustees seeking assistance and better communication with the tax authorities may co-operate with Israeli trustees in order to fulfill their duties in Israel.<\/p>\n <\/p>\n El sistema fiscal de Israel ha sufrido una importante reforma desde el a\u00f1o 2003. El Decreto de Impuesto sobre la Renta fue revisado al 2003 seg\u00fan lo cual un residente israel\u00ed es gravado con impuestos sobre rentas a nivel mundial en lugar del sistema fiscal territorial previo.\u00a0 La Ley de Impuestos de Fideicomisos (la “Ley”), efectiva desde el 1 de enero del 2006, al tiempo que impone impuestos sobre residentes israelitas con respecto a fideicomisos es ventajosa para residentes extranjeros. Israel es un importante centro internacional de negocios y financiero para no-residentes.<\/p>\n El Fideicomiso de Fideicomitente Extranjero y los Impuestos del Mismo<\/strong><\/p>\n Hay un n\u00famero de categor\u00edas de fideicomisos bajo la Ley. Este art\u00edculo enfatiza la categor\u00eda relevante a residentes extranjeros, el fideicomiso de fideicomitente extranjero. Este fideicomiso est\u00e1 dise\u00f1ado ya sea para miembros no-residentes de la familia quienes deseen satisfacer las necesidades de su familia en Israel o para residentes extranjeros que deseen designar un fideicomisario israelita que maneje los bienes y patrimonio de la familia.<\/p>\n Las condiciones requeridas para que un fideicomiso sea clasificado como un fideicomiso de fideicomitente extranjero son: (i) el fideicomitente es un no-residente de Israel al momento de la conformaci\u00f3n del fideicomiso y durante el a\u00f1o fiscal; o (ii) el fideicomitente y los beneficiarios son no-residentes de Israel durante el a\u00f1o fiscal.<\/p>\n Un fideicomiso de fideicomitente extranjero es visto como un residente extranjero personalmente, con el pa\u00eds en el cual el fideicomitente reside como su lugar de residencia, sin importar si el fideicomiso es clasificado como revocable o irrevocable. Los bienes que posee el fideicomisario son vistos como dichos bienes fueran propiedad de un residente extranjero personalmente. Como resultado, la renta del fideicomiso es considerada como la renta de un residente extranjero. Las ganancias de un fideicomiso que no son derivadas de fuentes en Israel no son gravables en Israel. Adicionalmente, no hay obligaciones de reportarlas en Israel.<\/p>\n Esta exenci\u00f3n de impuestos y de reportar se relaciona con renta derivada de fuentes tales como alquileres, intereses, dividendos, ganancias de capital y ganancias de negocios fuera de Israel. El fideicomiso de fideicomitente extranjero, en ciertos casos, puede tambi\u00e9n estar exento de impuestos sobre ciertos ingresos derivados de Israel de intereses o ganancias de capital dado que tales rentas pueden ser vistas como ingresos de un residente extranjero.<\/p>\n La Sociedad Subyacente<\/strong><\/p>\n La Ley introdujo la sociedad subyacente en Israel. Esta Ley estipula el establecimiento de una sociedad subyacente de un fideicomiso dentro de Israel o en el extranjero para prop\u00f3sitos de la separaci\u00f3n legal entre los bienes personales del fideicomisario y los bienes del fideicomiso. La sociedad no se establece para prop\u00f3sitos de manejar un negocio activo, sino para prop\u00f3sitos de poseer bienes a nombre del fideicomisario.<\/p>\n Una sociedad subyacente es una entidad legal separada propietaria de los bienes de un fideicomiso para el fideicomisario, directa o indirectamente. Toda entidad que posee bienes que no son propios, sino que pertenecen al fideicomisario por virtud del deber de un fideicomisario, cumple con la definici\u00f3n de una sociedad subyacente.<\/p>\n La Ley estipula que esta sociedad subyacente sea considerada como una \u2018entidad de flujo directo\u2019. La Autoridad Fiscal israel\u00ed debe \u2018mirar a trav\u00e9s de\u2019 la sociedad y tratar los bienes y la renta derivada de los mismos como si fueran propiedad directamente del fideicomisario.<\/p>\n Dado que el fideicomisario de un fideicomiso de fideicomitente extranjero no est\u00e1 sujeto a impuestos ni requisitos de informes, dicho fideicomisario puede utilizar la sociedad subyacente, ya sea en Israel o el extranjero, para tener los bienes del fideicomiso. Ni el fideicomisario ni la sociedad subyacente est\u00e1n sujetos a impuestos u obligaciones de reportar sobre la renta derivada de fuentes fuera de Israel. Donde la sociedad subyacente derive renta de fuentes dentro de Israel, tales ingresos son considerados como ganados por un residente extranjero. Dado que la renta de dep\u00f3sitos en moneda extranjera en bancos israel\u00edes est\u00e1 exenta de impuestos si son de propiedad de un residente extranjero, la sociedad subyacente (a\u00fan si est\u00e1 establecida y administrada en Israel) puede recibir la misma exenci\u00f3n. La exenci\u00f3n tambi\u00e9n puede ser otorgada si la renta es derivada de fuentes tales como ganancias de capital de la venta de valores en la bolsa de valores las cuales son exentas de impuestos si son propiedad de un residente extranjero.<\/p>\n El concepto de una sociedad subyacente es simple y ventajoso al construir el arreglo de fideicomiso m\u00e1s eficiente posible. Hasta ahora, los fideicomitentes y abogados prefer\u00edan nombrar fideicomisarios extranjeros por la preocupaci\u00f3n de que tener un fideicomisario israel\u00ed podr\u00eda crear obligaciones fiscales en Israel. Posterior a la Ley, el lugar de residencia de los fideicomisarios no afectar\u00e1 los impuestos del fideicomiso. Lo que determina la obligaci\u00f3n fiscal israel\u00ed es el estatus de impuestos del beneficiario y del fideicomitente.<\/p>\n Este es un importante desarrollo en Israel. Proporciona oportunidades tanto para sociedades de fideicomisos israel\u00edes como de ultramar (\u201coverseas\u201d) y abogados de fideicomisos y patrimonios. La designaci\u00f3n de fideicomisarios israel\u00edes es alentada por la Autoridad Fiscal. No s\u00f3lo har\u00e1 prosperar el uso de servicios profesionales locales, sino tambi\u00e9n permitir\u00e1 a la Autoridad Fiscal comunicarse directamente con fideicomisarios. Fideicomisarios extranjeros que busquen asistencia y mejor comunicaci\u00f3n con las autoridades fiscales pueden cooperar con fideicomisarios israel\u00edes para cumplir con sus deberes en Israel.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Israel\u2019s taxation system has undergone a major reform since 2003. The Income Tax Ordinance was revised as of 2003 pursuant to which an Israeli resident is taxed on worldwide income rather than the previous territorial tax system.\u00a0 The Taxation of Trusts Law (the “Law”), effective as of January 1, 2006, while imposing taxes on Israeli<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/24275"}],"collection":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/comments?post=24275"}],"version-history":[{"count":0,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/24275\/revisions"}],"wp:attachment":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/media?parent=24275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/categories?post=24275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/tags?post=24275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}