On 22 May 2017, the Israel Tax Authority issued a release providing an update on information exchange, including in relation to the OECD Common Reporting Standard (CRS) for financial account information and the exchange of Country-by-Country (CbC) reports. The release notes that Israel signed the relevant multilateral agreements for the exchange of CRS data and CbC reports in May 2016 and that CRS data will be exchanged from September 2018 and CbC reports will be exchanged with respect to 2016 fiscal years. As such, financial entities and international companies should prepare accordingly. With respect to CbC reporting requirements, the release...