TheMarker cited Moshe Asher, chairman of Israel's Tax Authority, as saying work on preparing tax bills had already begun. It will have to decide what percentage of the companies' profits from their Israeli customers should be taxable in Israel. Within a year we'll issue these companies tax bills." The EU has threatened to move ahead alone with a tax on internet companies' turnover. "We believe in the process, and ultimately we'll be able to issue justified tax bills, even if we're among the first in the world," he said.

Source: The Star November 15, 2017 12:00 UTC