Tax service of Israel (ITA) is taking decisive action against tax evaders who hide their income from investments in cryptocurrency and trading digital assets. Thus, notification letters have already received some of the residents of the country who travel often and own many real estate properties [three flats], according to CTech.
Note that cryptocurrencies in Israeli jurisdiction are treated as financial assets, and their holders are subject to income tax in the amount of 25-30%. At the same time, cryptocurrency exchanges have to pay value added tax at 17%.
Over the past two weeks ITA unilaterally opened hundreds of accounts for alleged tax evaders from the cryptocurrency sphere.
“We will continue the search for hidden income”, — said the head of ITA Eran Yaakov.
Earlier, the securities Department of the Israel has refused to recognize bitcoin as a security.
Recall that in early summer, the Israeli Parliament postponed the adoption of the law on counteraction to laundering money through cryptocurrencies. The stated reason was the lack of elaboration of the strategy of fight against laundering of illegally obtained income.
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