Annual report for individuals
This is the income tax report (Form 1301). This report details all types of income received by a taxpayer during the tax year. In general, taxable income is calculated according to the income received by a person during the tax year, net of all tax-deductible expenses. Where the result is the tax amount to which the taxpayer will be charged.
All self-employed people are required to submit an annual income tax report, not dependent on the profits or losses of the business. Employees are required to submit an annual income tax report only when their income is higher than NIS 641,000 during the tax year.