Israel's parliament adopted the Economic Arrangements Law for 2015/16 on 18 November 2015.The main measures of the Law concern transparency and anti-avoidance, and include: Taxpayers are required to inform the Israel Tax Authority (ITA) when they have applied or relied on written tax advice, including the nature of the advice; Financial institutions are required to provide information to the ITA concerning the transactions of businesses on a regular basis and by request; The Prohibition on Money Laundering Law is amended to cover fraudulent tax offenses, which allows for criminal prosecution and greater penalties; and The standard statute of limitations for...