Express

Israeli Bitcoin Investors Unable to Pay Taxes as Banks Refuse Cryptos

May Arjomand

Summary: Haaretz, an Israeli newspaper, reported on August 6 that Israeli Bitcoin investors cannot pay their taxes as banks do not accept deposits from cryptocurrencies due to money laundering and terrorist financing concerns.  Furthermore, Bitcoin is not recognized as a currency in Israel and as a result, earnings made from trading are subject to a 25% ...

Haaretz, an Israeli newspaper, reported on August 6 that Israeli Bitcoin investors cannot pay their taxes as banks do not accept deposits from cryptocurrencies due to money laundering and terrorist financing concerns. 

Furthermore, Bitcoin is not recognized as a currency in Israel and as a result, earnings made from trading are subject to a 25% capital gains tax for individuals and a 47% corporate tax for corporations. 

Author: May Arjomand

Last Update:

Tags: ,,,,,
Link: Israeli Bitcoin Investors Unable to Pay Taxes as Banks Refuse Cryptos   [Copy]
Next:

Related Articles

  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 18 hours ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 2 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 5 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 6 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 8 days ago

    • You need to login to comment.