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The agreement regulates the transfer of information to the IRS (the U.S. Internal Revenue Service) via the Israeli Tax Authority, which will receive information from Israeli financial bodies. The information relayed will include details on Israeli financial accounts held by U.S. citizens and residents, Green Card holders, or legal entities consisting of material American holdings. Additionally, the agreement enables the IRS to report on revenue from accounts held in U.S.

CRS is a uniform standard developed by the OECD for collecting information on foreign residents' financial accounts for the purpose of exchanging information for tax enforcement purposes between countries, whereby financial information about foreign residents is collected by the financial institutions and transmitted to the relevant authority (usually the Tax Authority) in the country for transfer to the resident countries of account holders, automatically and on an annual basis.

Double taxation treaties are bilateral agreements in which contracting countries jointly establish taxation rules that apply to their respective citizens receiving passive and active income.

Double taxation treaties are bilateral agreements in which contracting countries jointly establish taxation rules that apply to their respective citizens receiving passive and active income.

Double taxation treaties are bilateral agreements in which contracting countries jointly establish taxation rules that apply to their respective citizens receiving passive and active income.

The following is information for public reception at the offices of the Tax Authority for income tax, VAT and real estate taxation.