In 2005, the Tax Authority first introduced a voluntary disclosure procedure. This procedure allows taxpayers who have not reported their income to regularize their reporting
Introduction to Virtual Currency Tax Implications The term “virtual currency” can be deceptive. Despite the fact that it contains the word “currency,” it is not
Many Israelis holds foreign bank accounts abroad including in Switzerland, Germany, Spain, and the United States. These accounts frequently generate income, such as capital gains,
One of the most appealing purposes of voluntary disclosure procedures in Israel is the criminal immunity it provides. These procedures ensure that taxpayers’ applications will
Previous Voluntary Disclosure Procedures Israel Tax Authorities launched a scheme in 2005 to detect undisclosed income. The authority pledged that those who voluntarily report their
Increased Tax Authority Enforcement in Israel The Israeli Tax Authority has increased its efforts against owners of residential units and real estate properties who have
