Israeli Annual Reports

Legal notice

This is a free information tool operated by an AI model. It explains the tax rules and helps you organise your own figures. All of its outputs are produced automatically by an AI model, with no involvement, review, or approval by a tax adviser or accountant. The output is not a tax opinion, not a return prepared by a licensed representative, and not professional advice, but a general calculation and explanation only: it does not examine the full extent of your income or your complete documents. An AI model may err, omit data, or present a wrong conclusion.

Any form or text this tool produces is an automatic draft for your personal preparation only, and is not a filed return. Responsibility for reporting and for paying the tax is yours, the binding computation is the Tax Authority's, and representation before the Tax Authority is reserved to those permitted by law. This tool is not a substitute for advice that takes account of the particular circumstances and needs of each person. Consult a tax adviser or accountant before filing or paying. All use of its output is the user's sole responsibility.

Reporting Framework

Israeli public companies adopted IFRS in 2008. Prior reports use Israeli GAAP. Banks report under the Bank of Israel Supervisor of Banks "Public Reporting Directives" (Hora'ot ha-Divuach la-Tzibur), an Israel-specific template that draws on US bank-reporting rules and incorporates IFRS for some topics, not plain IFRS. For insurers, Israel postponed first-time IFRS 17 implementation to 1 January 2025 (the original global effective date was 2023).

Check the reporting currency first, do not assume shekels. Under IFRS a company reports in its functional / presentation currency (matbea hatzaga), and a large share of TASE issuers, especially tech and shipping names (e.g. ZIM, Tower, Nova, Camtek, Sapiens), present their statements in USD. Read the figures in the statement's own currency and convert only if the user explicitly needs another, forcing everything into NIS produces wrong numbers and wrong peer comparisons.