A new Income Tax Circular from the Israeli Tax Authority provides guidance for multinational enterprises that are required to comply with country-by-country reporting (CbCR). On February 11, 2025, the Israeli Tax Authority (ITA) published Income Tax Circular 01/2025 (Circular), which provide guidelines and details regarding the obligations and requirements for multinational enterprises (MNEs) with regard to their submission of country-by-country (CbC) reports.This Alert outlines the fundamental and general principles of the Circular.BackgroundAs part of the Organisation for Economic Co-operation and Development's (OECD's) Base erosion and profit shifting (BEPS) initiative, the CbC report generally must be submitted in the country in which...