Israel has enacted legislation to align its transfer pricing rules with BEPS Action 13 requirements (Local File, Master File, and Country-by-Country Reporting). Under the new rules, certain taxpayers will have increased transfer pricing reporting and documentation obligations as outlined in this Alert. Multinational enterprises should carefully review this amendment to assess its impact on their transfer pricing reporting and documentation obligations in Israel and consider necessary actions and alignment.Executive summaryOn 30 June 2022, the Israeli Parliament passed legislation (a draft bill presented in October 2020[i]) to amend Section 85A of the Income Tax Ordinance (ITO) and its regulations, by introducing...