The Israeli Cabinet reportedly approved the country's budget proposals for 2017-2018 on 8 August 2016. The main tax-related measures proposed include: The introduction of Country-by-Country (CbC) reporting requirements in line with BEPS Action 13 that will apply for MNE groups meeting a consolidated revenue threshold of ILS 3.4 billion; A reduction in the corporate tax rate from 25% to 24% in 2017 and 23% in 2018; The introduction of a new incentive for qualifying companies with R&D facilities in Israel that includes a reduced corporate tax rate of 12% (6% if revenue exceeds ILS 10 billion in specified areas) and...