TEL AVIV Jan 1 Israeli financial institutions
will have to start sending details of foreigners' bank accounts
to the authorities by the end of 2017, as part of a global push
to boost tax collection, the Finance Ministry said on Sunday.
Israel's tax authority will then forward the information
onto the account-holders' home countries - and, in exchange, get
details of accounts held by Israelis abroad, the ministry added.
The global scheme, agreed through the Organisation for
Economic Cooperation and Development (OECD), covers banks,
insurance companies, investment funds and other institutions.
The ministry said it was preparing a final version of
regulations to be submitted to parliament's finance committee
(Reporting by Tova Cohen)