Court Bars Preparations to Share Tax Data with U.S.

September 1, 2016

Under the agreement with Israel, Israeli financial institutions must transfer data on accounts held by U.S. citizens holding $50,000 or more.

The High Court of Justice on Wednesday threw a wrench into the government’s plans for sharing information with the United States about taxpayers after Justice Hanan Meltzer ordered officials to suspend preparatory work.

A day before it was due to go into operation, Meltzer told the state to suspend work in the mechanism it had developed for sharing information on the accounts of U.S. citizens with banks or other financial accounts in Israel.
Read the full article about the Supreme Court injunction to transfer funds to the IRS at http://www.haaretz.com/israel-news/business/.premium-1.739683

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