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Protocol to Tax Treaty between Israel and the UK Signed

25 January 2019

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Treaty Development

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Israel-United Kingdom

On 17 January 2019, officials from Israel and the UK signed an amending protocol to the 1962 income tax treaty between the two countries. The protocol is the second to amend the treaty and includes the following changes: The preamble to the treaty is updated in line with BEPS recommendations; A new article on the treatment of income and gains of transparent entities is added as Article I, with the existing Article I (Taxes Covered) renumbered as Article IA; The Article on Taxes Covered is updated with the removal of "surtax" in relation to UK income tax and the replacement...