The Israel Tax Authority (ITA) is published an updated version of the annual controlled transaction disclosure Form 1385. Taxpayers must use the form for the disclosure of information regarding all controlled transactions with foreign parties. The form is due with the annual tax return. The updated Form 1385 requires further detail on transactions, including details of the foreign related party, the transfer pricing method used, etc. The updated form also includes section for taxpayers to indicate whether the rules of Circular 12/2018 are applied, which provides for the easing of transfer pricing requirements in relation to low value adding services,...