The State of Israel has signed more than 50 tax treaties with other countries, within which there is usually a clause dealing with exchanges of information, to the extent that the information is required for executing the provisions of the treaty or application of internal law dealing with taxes that are covered by the treaty.

Besides exchange of information within information exchange clauses in tax treaties, there are additional arrangements that have been formed in recent years that deal with exchanges of information on tax issues – the Convention on Mutual Administrative Assistance in Tax Matters, which Israel has not signed for the time being. In addition, in recent years, tax information exchange agreements – TIEAs have been signed on tax affairs, including with countries that are considered to be tax havens.

Israel has declared its intention of signing information exchange agreements with other countries with the intent of 

gathering information on income and assets of Israelis overseas, in view of the increasing trend in Israel and in the world to combat tax evasion. Information that is gathered by the ITA is subject to a duty of confidentiality, and may be disclosed only to a country that has signed a tax treaty with Israel. In order to be prepared for the possibility of providing information to countries that have not signed a tax treaty with Israel (for example, information exchange treaties, or the FATCA Agreement, if signed), a bill has been introduced that will enable the disclosure of information in such circumstances, and conditions have been prescribed for such transfer of information, including the necessity of the information for the foreign country for the purpose of enforcement of its own tax laws, safeguarding information security and limited use of the information.

These expected steps are being taken alongside the formation of a new procedure for voluntary disclosure that is about to be published, being intended for taxpayers that are interested in initiating a procedure of voluntary disclosure of their income and assets that have not been reported and the payment of the taxes, whereby the applicant will probably be given an option for conducting an anonymous procedure to resolve his tax liability.