{"id":46940,"date":"2021-07-30T09:41:34","date_gmt":"2021-07-30T06:41:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46940"},"modified":"2025-09-01T18:54:28","modified_gmt":"2025-09-01T15:54:28","slug":"israel-to-require-residents-to-report-crypto-holdings-above-61000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/israel-to-require-residents-to-report-crypto-holdings-above-61000\/","title":{"rendered":"Israel to require residents to report crypto holdings above $61,000"},"content":{"rendered":"

Israelis will be required to report holdings of digital assets worth more than 200,000 shekels (~$61,270). Such a proposal is contained in the Finance Ministry’s bill<\/a>.<\/p>\n

The document is open for public consultation until 31 July.<\/p>\n

The new requirement is included in the draft amendments to the economic policy<\/a>. The document is being considered by the Knesset alongside the annual budget.<\/p>\n

The initiative is aimed at “disclosure of unreported assets and income” and boosting tax take.<\/p>\n

The Israeli Bitcoin Association urged lawmakers to engage in dialogue, according to Coindesk<\/a>. The association’s spokesperson said that the Israel Tax Authority (ITA) listened to them and is ready to study proposed amendments.<\/p>\n

According to the publication, the association drew attention to privacy infringements for crypto investors and the risk to their security in the event of a leak of the compiled database. It also noted the absence of such reporting requirements for holders of other assets.<\/p>\n

\n

“This is a bad idea. It will harm investors and will not add a single shekel to tax revenue in Israel. We still have time. I hope our efforts will pay off,”<\/em> said Nir Hirschman, head of the association’s regulatory affairs department.<\/p>\n<\/blockquote>\n

In December 2020, the ITA demanded<\/a> that cryptocurrency holders fully disclose their assets and profits.<\/p>\n

In September 2020, members of the Knesset urged to exempt<\/a> holders of Bitcoin and other cryptocurrencies from taxation.<\/p>\n

In 2018, the tax authority equated cryptocurrencies with financial assets, obliging individual investors to pay a capital gains tax of 25%.<\/p>\n

Subscribe to ForkLog’s news on Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Israeli citizens will be required to report holdings of digital assets worth more than 200,000 shekels (~$61,270). The proposal is contained in the Finance Ministry’s drafted bill.<\/p>\n","protected":false},"author":1,"featured_media":46941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,734,36,558],"class_list":["post-46940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-israel","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=46940"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46940\/revisions"}],"predecessor-version":[{"id":46942,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46940\/revisions\/46942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/46941"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=46940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=46940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=46940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}