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Client updates
On March 25, 2020, emergency regulations were adopted in Israel that include, among other things, an extension of the validity of regulatory approvals that expire in the near future.
Due to the coronavirus pandemic, the Israel Innovation Authority (IIA) has issued a major easement for the companies it supports, in the manner in which payroll expenses for companies in the midst of carrying out approved plans will be recognized.
In response to the Corona pandemic, the ISA published on March 30, 2020, a temporary order for license holders in connection with the clarification of clients' needs.
In light of the coronavirus pandemic, the Israel Securities Authority (ISA) recently released a number of updates and reliefs on the obligations that apply to portfolio managers and investment advisors and marketers.
New guidelines for conduct in the workplace came into effect today in Israel.
Categories:
Employment
Special coronavirus-related emergency regulations were promulgated in Israel on March 21, 2020, listing specific economic activities considered as essential that are allowed to operate with fewer limitations.
The global effort to fight the spread of coronavirus has prompted new privacy related questions around the world. Much has been written for and against the use of privacy-compromising measures to protect public health. Therefore, we have chosen to concentrate on the practical implications of privacy principles on companies and businesses.
Categories:
Corporate
On March 22, 2020, and again on March 25, 2020, emergency regulations on limiting market activity and limiting the number of employees in the workplace were published.
Categories:
Employment
Several employment restrictions in light of the emergency regulations that were published in Israel and an update on giving retirement insurance and car use benefits during unpaid leave.
Categories:
Employment
In light of the coronavirus pandemic affecting the economic market, the Israel Tax Authority has published several reliefs for taxpayers.
Categories:
Tax
The EU announced recently, following a meeting of its Economic and Financial Affairs Council (ECOFIN), that the Cayman Islands has been moved to Annex 1 of the list of “non-cooperative jurisdictions” for tax purposes.
On March 22, 2020, emergency regulations were published in Israel on limiting market activity for the purposes of managing the spread of the coronavirus. The construction and infrastructure sectors were declared exempt.
Categories:
Infrastructure and Project Finance
On March 18, 2020, the Israeli Ministry of Labor, Social Affairs and Social Services published new regulations permitting employers to engage overtime workers at a larger scope, significantly in excess of what has been permissible to date.
Categories:
Employment
On March 18, 2020, the Israeli Ministry of Environmental Protection issued a set of guidelines for adjustments to businesses and factories with permits and licenses issued by it for toxin permits, emission permits, and business licenses with environmental conditions.
As a result of the economic downturn and in order to reduce expenses, one of the alternatives is imposing unpaid leave on employees.
In light of the coronavirus outbreak in Israel, and the restrictive measures taken by the government, the Israeli Corporations Authority has issued updated guidelines to ease the obligations of Amutot and PBCs.
Categories:
NPO
The Israel Securities Authority revised its previous position and announced that in light of the exceptional circumstances, reporting corporations may submit their 2019 periodic reports until April 30, 2020.
What happens if a contractor’s workers do not come to work due to the spread of the coronavirus, and therefore cause delays in the delivery ? Will the buyer be entitled to compensation or will the delay be justifiable?
Categories:
Real Estate
The Israeli National Cyber Security Authority published recommendations for business and organizations related to privacy protections and data security for telecommuting due to coronavirus spread.
Because of the coronavirus, many employers have been forced to consider minimizing expenses. In Israel several alternatives are being explored: reducing the scope of employment, lowering salaries, utilizing any available leave days, imposing unpaid leave on employees, reducing manpower, and conducting layoffs.