Preparing for the Israel Invoicing Model
- From Anna Moyal
- 11/04/2024
Dear Suppliers,
On May 5th, 2024, the “Israel Invoicing Model” is expected to come into effect as part of the Economic Efficiency Law (Amendments to Legislation to Achieve Budget Targets for the Fiscal Years 2023 and 2024).
As part of this, tax invoices exceeding the legal threshold (initially set at 25,000 NIS + VAT) will require an “Allocation Number.”
A valid Allocation Number will be a condition for input VAT deduction.
Accordingly, every tax invoice with a pre-VAT amount exceeding 25,000 NIS must display an Allocation Number, which will be a mandatory condition for processing and payment of any invoice issued to our company starting from May 5th, 2024.
Please take note and prepare accordingly.
Wishing you a Happy Passover,
Anna Moyal, CPA – CFO
AllCargo Logistic Services Ltd.
