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    Media Center / Legal Updates

    Offsetting current losses against previous years following the COVID-19 crisis.

    July 6, 2020

    Tax

    Doron Levy

    Racheli Guz-Lavi

    What is the obvious solution that could significantly aid businesses in Israel in their dealing with the COVID-19 crisis, buy is yet to be adopted by policy makers in the country?

    Offsetting current year’s losses against profits from previous years is a mechanism previously rejected by the Tax Authority and dismissed by the Supreme Court, however, Adv. Doron Levy and Adv. (CPA) Racheli Guz-Lavi, leading partners in our Tax Department explain why use of this mechanism should be considered anew. To read the article in Hebrew, in the Taxation Bi-Monthly Publication, please click here.