Many Israelis who also hold citizenship in the United States will be affected by new tighter tax laws penned by US President Barack Hussein Obama's administration.
Under US regulations, a citizen who fails to report by the end of September 2009 any account worth more than $10,000 held in a non-US bank, a savings program or a fund, will be liable for a fine of $10,000 for each offence, even without criminal intent.
Some investment houses are concerned this will lead investors to leave Israel, because of tax arrears fines and investors' interest in more lucrative tax havens.