Quote from: Alex11212 on December 06, 2018, 04:15:40 PM

The Israeli Tax Authority (ITA) is cracking down on cryptocurrency tax evaders, and has reportedly issued warnings to hundreds of Israeli crypto enthusiasts.

Per Israeli news outlet Calcalist, the ITA has unilaterally opened tax accounts for hundreds of Israelis identified as having cryptocurrency-related revenues.

The report says that it has identified individuals it suspects of failing to report their earnings, and quotes an unnamed official familiar with the matter as stating that citizens who travel abroad frequently without having the requisite funds on paper, or those who own over three apartments have been sent warning letters.

It is interesting how this Israeli tax authority will check the observance of the tax laws of this country by individual citizens. So far, the tax authority has sent a warning to those who, from the point of view of this body, do not live within their means - they often go abroad or have a lot of real estate. However, it is not at all necessary that these persons have an income from cryptocurrency. While this is a warning about the voluntary payment of taxes. How will the government act if these citizens do not show their profits in cryptocurrency? This question is of interest to many, since it concerns the possibility of determining the object of taxation in cryptocurrency and its enforcement. The question is in principle: is it possible.