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 DeFi and Layer 2s: The Next Trillion-Dollar Opportunity? 4 days ago
  • Is the Crypto Bull Market Over? 5 days ago
  • EIGEN Airdrop: The Evolution of Ethereum 5 days ago
  • The Endgame of Layer 2s, Explained 8 days ago
  • The Bitcoin Halving is Complete! What’s Next? 16 days ago

    • You need to login to comment.