Meitav Benefits trust company, S.G.S Trusts, has ITA (israel tax authority) approval to serve as a General Trustee, in accordance with ITA’s requirement under Section 102 of the Ordinance, as well as a Trustee for M&A’s, ESCROW , tax ruling, Personal trusts etc.
Trust services subject to Section 102 of the Ordinance:
- Initial and subsequent Submission of the plan for ITA’s approval
- Monitoring ITA restrictions with respect to grants qualification under the tax code
- Generating grant letters to each optionee subject to company’s request
- Annual reporting in accordance with the tax code and it’s regulation (i.e Forms146/156 reports)
- Tax calculation and Tax withholding in accordance with Section 102
Trust services following an M&A, Escrow ,Tax ruling or otherwise:
- Review M&A agreement and provide advise on the stock administration available processes
- Hold the equity instrument or cash in trust in accordance with ITA ‘s Rulings
- Allocate company’s settlement in a personal accounts per optionee/investor.
- Communications and presentations on behalf of the employees
Executing all sales necessary in accordance with
- investor’s /option folders instruction
Withholding at source as per tax ruling
- Providing investor/optionee with an annual Tax reporting (Form 856/857) Personal Trusts