Tax lawyer Doron Levy shares crucial insights on residency status and its tax implications for Israelis. Discover the key takeaways that could affect your financial planning: “Only in one case of the USA tax is levied in respect of Citizenship. Citizenship is a legal status that doesn’t depend on physical presence. Residence is a hybrid concept, combining physical presence and legal status”.
“Most countries that use personal methods, including Israel, primarily rely on residency. They define it based on physical presence, weighing specific facts and circumstances. For legal entities, residency is often determined by the place of incorporation or where the entity is managed and controlled”.
