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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

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