Government measures in key jurisdictions 5th edition - Flipbook - Page 74
Israel
Furthermore, temporary emergency regulations were published to provide the following
additional grants:
1. A special grant for every family; 500 NIS for every child up to the fourth child (and NIS
300 for each additional child), and NIS 750 for each senior citizen above 18. Such grants
will not be deemed as income in the hands of the individuals.
2. A special adaption grant to those who have reached the age of 67 and who were
dismissed or sent on unpaid leave by their employer between 1.3.2020 and 15.8.2020 for
a period of at least 30 days, if they meet the conditions of entitlement. The grant amounts
range from NIS 1,000 to NIS 4,000 per month, depending on the level of the employees'
income from the pension. The grant does not affect entitlement to an old-age pension.
3. Small business expense bi-monthly grant for self-employed individuals with turnover of
up to NIS 300,000 in 2019, whose turnover was affected by the Covid-19 (at least a 40%
decrease in revenues during the months May to August 2020 and 25% decrease in
revenues during September 2020 to June 2021 (the decrease is determined in
comparison with those months in 2019)). The grant amount is up to NIS 6,000 and the
application for the grant must be submitted by no later than February 15, 2021 (with
respect to September-October 2020 grant).
4. Bi-monthly grants for self-employed individuals and salaried business owners with at least
a 40% decrease in revenues during each couple of months between May-December 2020
compared to those months in 2019, subject to certain additional conditions. In addition,
there are eligibility periods between January-June 2021 that have not yet been finally
approved. The Bi-monthly grant amount is up to NIS 15,000, and the application for the
grant must be submitted no later than April 15, 2021 (with respect to NovemberDecember 2020).
5. Special bi-monthly grants for self-employed individuals and corporations for help with
fixed expenses that have not been spared, despite the decrease in the volume of activity
of the business due to Covid-19, such as rent, electricity, water and etc. The grants are
granted to businesses with an annual turnover of up to NIS 400 million in 2019 and whose
turnover was decreased due to the Covid-19 (25-80% decrease in revenues on a bimonthly basis during the months May 2020 to June 2021 compared to those in 2019). The
grant amount is up to NIS 500,000.
6. Entitlement to tax-free withdrawal of funds from a study fund up to a ceiling of NIS 7,500
per month (even if 6 years have not yet passed since the first deposit to the fund).
7. A one-time grant for self-employed individuals and corporations with turnover up to NIS
400 million and whose turnover was decreased during 2020, due to the prolonged
affection by the Covid-19, in at least 25%, compared to the turnover in 2019, subject to
certain additional conditions. The grant amount of up to NIS 50,000.
In addition, as part of the government's efforts to strengthen the real estate and construction
industry in light of the Covid-19, a reduction of purchase tax brackets for an additional
residential apartment (a residential apartment that is not the buyer's single apartment) was
approved in order to motivate the real estate market.
74
Company
law matters
Other than for certain regulatory documents, Israeli law makes no requirements for
documents to be signed or submitted in person, and most documents may be executed
electronically or by scanned version.
Have any measures
been put in place
to accommodate
social distancing
(such as remote
general meetings)?
The Israeli Companies Law does not require any corporate meetings to be held in person, and
unless specifically noted otherwise in a company’s bylaws, all such meetings may be held
remotely by means of telecommunication, provided all participants are be able to speak and
hear one another in parallel.
Furthermore, all regulatory authorities (such as the Israeli Registrar of Companies) have made
efforts to accommodate social distancing, by allowing companies and entities to submit
reports and documents through the internet or by email. An additional temporary relief
includes the ability to verify the signatures of individuals located in Israel remotely by means
of telecommunication, instead of in face-to-face meetings.
Government measures in key jurisdictions
