On 26 February 2024, Israeli Tax Authority (ITA) announced an additional extension until May 5, 2024, for the implementation of Israel’s invoice clearance model.
The new Israeli invoicing model envisages a clearance system for invoices, under which businesses engaged in B2B transactions that exceed a specific threshold will be required to obtain an allocation number. According to this recent announcement, deduction of input tax will be allowed, even in the absence of an allocation number, until May 4, 2024 (previously March 31).
The clearance platform of ITA is fully operational since January 1, 2024, as originally planned, and invoice issuers who opt to request allocation numbers for their invoices, will be able to receive them.
For more details regarding Israel’s invoicing model, you can check our website here.
