{"id":29178,"date":"2020-09-25T12:07:20","date_gmt":"2020-09-25T09:07:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29178"},"modified":"2025-08-27T15:32:13","modified_gmt":"2025-08-27T12:32:13","slug":"israels-parliament-to-vote-on-easing-cryptocurrency-taxation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/israels-parliament-to-vote-on-easing-cryptocurrency-taxation\/","title":{"rendered":"Israel&#8217;s parliament to vote on easing cryptocurrency taxation"},"content":{"rendered":"<p>Four members of the Israeli Knesset have proposed considering new amendments to the country&#8217;s Tax Code. They propose dropping Bitcoin and other cryptocurrencies from capital gains taxation, according to <a href=\\\"https:\/\/www.globes.co.il\/news\/article.aspx?did=1001343596\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Globes<\/a>.<!--more--><\/p>\n<blockquote>\n<p>&#8220;The regulatory situation in Israel is not prepared for the reality in this area. [Digital currencies] will remain the engine of growth that will allow the high-tech industry to develop and prosper,&#8221; according to the explanatory memorandum to the bill.<\/p>\n<\/blockquote>\n<p>In 2018, the Israeli Tax Authority equated cryptocurrencies with financial assets, obliging individual investors to pay capital gains tax at 25%.<\/p>\n<p>If the law is approved, cryptocurrencies will be taxed at lower rates.<\/p>\n<p>In 2019, for individuals with income below 75,720 shekels ($21,780), the rate stood at 10%.<\/p>\n<p>One of the bill&#8217;s authors also urged the Knesset to consider blockchain technology as a solution for digital payment options during the pandemic. Earlier, the legislature had imposed a quarantine due to rising COVID-19 infections.<\/p>\n<p>Back in 2018, Israeli authorities announced decisive measures against tax evaders hiding income from digital asset transactions.<\/p>\n<p>In 2019, many Israeli crypto investors faced tax payments problems due to banks&#8217; refusal to accept funds derived from digital asset transactions. The Bitcoin Association of Israel, through the courts, demanded that banks disclose their policy on this issue.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four members of the Israeli Knesset have proposed considering new amendments to the country&#8217;s Tax Code. They propose dropping Bitcoin and other cryptocurrencies from capital gains taxation, according to Globes.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[734,558],"class_list":["post-29178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-israel","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29178"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29178\/revisions"}],"predecessor-version":[{"id":29179,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29178\/revisions\/29179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}