Israel fails to implement CRS

On 28 November 2018, the Israeli Parliament’s Finance Committee held a second session on the Common Reporting Standard (“CRS”) regulation approval. The first session was held on 7 November 2018 (Link-Hebrew). The government representatives opened the second discussion by mentioning the letter sent by the Secretary General of the Organisation for Economic Co-operation and Development (“OECD”) to Israel’s Prime Minister and Minister of Finance, which urged them to finalize the CRS legislation.

Israel has failed to implement CRS by the OECD’s September deadline and did not approve the CRS regulation, yet. The next session on the matter is scheduled for 12 December 2018.

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