Latest Updates /  Taxation of Cryptocurrencies

Adv. Harel Perlmutter, Partner and Head of the Tax Department at Barnea, was interviewed by Walla regarding the Israeli Tax Authority’s upcoming voluntary disclosure procedure for holders of cryptocurrencies and digital assets. The new framework is expected to offer immunity from criminal proceedings for taxpayers who come forward—without an anonymous track and without relief from interest or inflation adjustments. The procedure will apply to assets such as Bitcoin, Ethereum, and NFTs, provided the disclosure is made before any investigation is initiated or relevant information reaches the authorities.

Adv. Hanna Daher, a partner in the Tax Department, was interviewed by Globes following Israel's adoption of the OECD's CRS standard, under which countries will share information regarding cryptocurrency.

Adv. Harel Perlmutter, the head of our Tax Department, was interviewed by Bloomberg BNA following the release of the Israel Tax Authority's new draft plan for taxing ICOs.

Adv. Harel Perlmutter, Head of the Tax Department at Barnea, was interview by Bloomberg regarding a draft circular of the Israel Tax Authority on taxation of virtual currencies (bitcoins and the like).  Harel commented that the draft imposes almost insurmountable restrictions on the use of virtual currencies in Israel, due to the liabilities and costs involved.