Israel's Tax Authority has yet to decide how much of the revenue the companies' get from Israeli citizens is taxable.

The tax man cometh.

Israel is preparing to send U.S. tech giants Facebook Inc. (FB) and Alphabet Inc. (GOOGL) a new tax bill within a year, financial newspaper TheMarker reported Wednesday. 

Israel's Tax Authority has yet to decide how much of the revenue the companies' get from Israeli citizens is taxable. 

"Ultimately, taxes can be charged based on their operations in Israel. Our goal is to obtain as much data as we can, even if many of these figures are held outside of Israel. Within a year we'll issue these companies tax bills," Tax Authority chairman Moshe Asher told TheMarker

Israel's corporate tax rate is 24%, with taxes predicated on the whether the companies are considered to have a permanent presence in the country. 

"We believe in the process, and ultimately we'll be able to issue justified tax bills, even if we're among the first in the world," Asher said.