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Israeli Court has Ordered Beny Steinmetz to Give the Tax Authority Documents About His Companies Overseas


The Israel Tax Authority has won an important victory in its dispute with Israeli billionaire Beny Steinmetz. The Tel Aviv District Court has ordered Steinmetz to hand over to the Israel Tax Authority a large range of documents about the trusts and companies that he holds overseas.

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Judge Magen Altuvia said that Steinmetz’s refusal to hand over the data and documents demanded by the Gush Dan tax assessor from Steinmetz required for clarifying affairs regarding the appraisals issued as part of the tax dispute between the parties verged on a violation of the obligation of disclosure and was “harming the aims of the assessor’s procedures to set the true tax.”

Among the documents that Steinmetz will be required to hand over are details of the structure of his businesses and the corporations included in his businesses between 2003 and 2006. Other documents relate to trusts and the assets they hold, trusts of his close relatives, names of directors and executives in the trusts and companies, investments and loans in foreign and Israeli companies, tax reports filed with foreign countries he owns and Steinmetz’s income, and more.

Published by Globes [online], Israel business news – 




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