On 17 August 2023, the Israeli tax authority (ITA) issued a new circular dealing with updated guidance on Mutual Agreement Procedures.The updated guidance follows principles provided in Action 14 of the Base Erosion and Profit Shifting project led by the Organisation for Economic Co-operation and Development.Israeli and multinational enterprises seeking to settle discrepancies and double taxation arising from inconsistent application and interpretation of tax treaties by tax jurisdictions with which Israel signed a double tax treaty should consider approaching the ITA for a Mutual Agreement Procedure where relevant.BackgroundOn 17 August 2023, the Israeli tax authority (ITA) issued a circular on...