Shtainmetz Aminoach & Co., Certified Public Accountants (“The Firm”) serves around 3,000 of Israel's leading companies. The Firm is continuing to grow and emphasizes professional service at the highest level possible. The Firm's services include financial statement preparation, accounting and audit services, internal and forensic auditing, domestic and international tax planning and structuring, tax agreements, voluntary disclosures to the tax authorities, obtaining tax authority pre-rulings, trusteeships (under Section 102 of the Income Tax Ordinance), financial management for investment groups, US tax compliance and consulting services, and establishing overseas companies.
Line of Business
Certified public accountants (Isr.)
The Firm specializes in a wide range of services, including accounting and audits, tax and tax planning, representations before the tax authorities, and international taxation. The Firm has extensive experience and expertise in tax pre-rulings and provides tax and advisory services to banks, insurance companies, and large conglomerates.
The Firm's 170 employees include six former senior officers of the Income Tax Authority, five employees hold both public accountant and advocate licenses, while seven employees have both law degrees and professional accounting licenses.
The Firm's Special Edge
The partners' and employees' expertise and experience enable them to serve their many clients, which come from many segments of Israel's economy, such as banks, insurance companies, contractors, hi-tech companies, industrial plants, international companies, and large conglomerates. The Firm specializes in international taxation and complex Israeli tax planning.
Shtainmetz Aminoach & Co. is part of the UHY international network of accounting firms, comprising approximately 250 firms in 84 countries.
Public Company Accounting Oversight Board ("PCAOB")
Shtainmentz Aminoach & Co. is one of the only C.P.A. firms in Israel to be approved by the United States Securities and Exchange Commission to submit financial statements of companies/subsidiaries traded on US stock exchanges. The PCAOB was established due to the Sarbanes-Oxley Act of 2002. Accordingly, a firm of C.P.A.'s, which is not approved by the PCAOB, is not entitled to undertake any auditing work for companies whose securities are offered to the public and are registered for trading. After very intensive tests, the PCAOB concluded that Shtainmetz Aminoach & Co. complies with the high standards required to undertake audits and submit financial statements.
Income Tax Pre-Ruling Decisions
Over the years, the Firm has gained valuable experience in the field of income tax pre-rulings. Using the pre-ruling framework, the Firm can ease a client's uncertainty and business risk vis-?-vis complex tax issues. The Firm is involved in pre-ruling work in the following fields – income tax, real estate tax, value-added tax, international tax, and mergers and divestitures. A pre-ruling decision is binding for both contract law and administrative law. When submitting the pre-ruling request, the Firm safeguards its client's anonymity, and only afterwards discloses the client's full details. The Firm provides this service to its own regular clientelle as well as clients who only ask for this service.
The Firm also specializes in voluntary disclosures, working with the Income Tax Authority's Investigations Department, representing non-clients and private individuals in amending their reports or reporting previously undeclared income, while obtaining commitments from the Income Tax Authority and the State Prosecutor's Office not to initiate criminal proceedings against them.
US Tax Compliance and Consulting
The Firm provides corporate, partnership, and individual tax preparation services for US citizens and non-citizens alike to report their income to the US tax authorities. In addition, the Firm provides US tax planning and consulting services for those considering investments or establishing businesses in the US.
Pension and Provident Fund Taxation
The Firm has the two leading experts in the field of Israeli pension taxation - Kobi Ittah, who served for many years as manager of the Income Tax Authority's Provident Fund Division, and Kobi Shtainmetz, who serves as a consultant for Israel's leading companies.
Because of their broad experience in pension and provident fund taxation, the Firm can provide on-going consultation services in these fields, serving banks, insurance companies, insurance agencies, and Israel's largest companies. The consultation service also includes retirement arrangements for employee groups and senior management.
The Firm's pension and provident fund taxation manual, written and regularly updated with the support of Kobi Ittah and Kobi Shtainmetz, is a reflection of its strong professional abilities. The manual is 700 pages long, is a leading resource to those in this field, and provides extensive reviews of pension tax law, interpretations, and legal decisions. More than 1,000 copies have already been sold with its purchasers including the Income Tax Authority (for its agents' use), insurance companies, large insurance agencies, banks, and law and accounting offices. The manual is available in both printed and digital forms.
Internal Auditing Services and Business Consulting
The Firm specializes in business consulting and internal auditing services. The services provided include, among others, the following: due diligence, expert opinions, and valuations; Internal audit and forensic accounting – fraud prevention, financial investigations; risk management and regulation reviews – implementing the recommendations of the Goshen committee, I-SOX, SOX, SAS-70; consulting, audit and IT security in different environments such as: AS 400, WinTel, MF and ERP.
What Do Other Accountants Say About Us?
In a survey of public accountants conducted by "Globes," the Firm was ranked as one of the top ten quality-orientated firms in Israel in three critical areas - tax, audit, and handling of hi-tech companies.
The Firm's Offices
The Firm occupies two floors at Engel House, located at 88 Yigal Alon Street in Tel Aviv, with extensive parking facilities for clients and guests free of charge. The offices also feature free wi-fi access for clients. The Firm's website offers regular updates and explanations on legislative changes, regulations and court cases related to the fields of taxation and accounting.
ADDRESS Engel House, 88 Yigal Alon St., P.O.B. 14221, Tel Aviv 6114102 TEL 972-77-7700000 FAX 972-3-7601100 E-MAIL email@example.com WEBSITE www.cpa.co.il