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Israelis Are Required To Disclose Cryptocurrency Holdings, Report Says
Summary: According to Globes, the Israel Tax Authority (ITA) now requires residents to disclose their cryptocurrency holdings. The ITA stipulates that as long as the digital currency investor’s business has not been transformed into a commercial enterprise, a 25% capital gains tax shall be paid. ITA has followed the EU Common Reporting Standards and the Foreign Account ...
According to Globes, the Israel Tax Authority (ITA) now requires residents to disclose their cryptocurrency holdings. The ITA stipulates that as long as the digital currency investor’s business has not been transformed into a commercial enterprise, a 25% capital gains tax shall be paid. ITA has followed the EU Common Reporting Standards and the Foreign Account Tax Compliance Act to obtain relevant information and data of Israelis' domestic or overseas crypto exchange accounts.
By Mary Liu
Tags: Cryptocurrency,Israel,Tax Authority
Link: Israelis Are Required To Disclose Cryptocurrency Holdings, Report Says [Copy]
