How Israel Became a Tax Shelter for Wealthy Foreign Jews

To encourage aliyah, Israel refrains from taxing foreign assets belonging to immigrants and returning residents for 10 years. The Tax Authority is now rethinking this policy.

About a week ago, the police entered luxury homes in Herzliya Pituah owned by French Jews suspected of tax evasion and money laundering in France. The case was part of a worldwide investigation tracing $5 billion that rich Jews were suspected of hiding in Israel.