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.

While I don't see anything wrong in tracking down tax evaders because I believe there is nothing wrong in complying with the law and there is no excuse.for it at the same time, its better to see the good side in this which means for government to decide to commit its resources in terms of money and capital into this, it surely means they are not going after the small boys hiding behind crypto to avoid tax that can be used for the betterment of the society.

olubams

Posts

Merits