The Israeli Tax Authority is scheduled to publish a voluntary detection plan

The new volunteer disclosure of the Israeli Tax Authority will not include an unknown path as in the previous programs, but it will include a “green” path to report the profit of encrypted currency that reaches hundreds of thousands of Chicles, without requesting discussions with an evaluation official. This is the procedure that appears to be formed from the final discussions to formulate the new volunteer disclosure, which has been delayed for more than a year.

“Globes” has also learned that, according to the new procedure, specifically allocated to the encrypted currency holders who have not yet reported their profits, the evaluation officials estimate the detection of profits from digital assets will be limited to up to 5 million NIS and any amount higher than this ceiling It will require consultation and approval from the professional administration of the Israel Tax Authority.

For other financial assets – savings, income from real estate, benefits, deposits abroad, and more – the check -in -the -discusser ceiling with tax officials will be 10 million NIS. Above it, you will be needed to consult with the professional section.

Nis 2-3 billion in tanks

The Israeli volunteer disclosure, who have hidden the assets and not reported to report the state and pay the tax with immunity from criminal procedures. In May 2024, the director of the Israeli Tax Authority, Aharunovic Tea, announced that new voluntary disclosure measures will be published “within a few days”, which allows the Israelis who have not been reported and have not paid a tax on it yet, to report their assets and pay the tax without fear of prosecution . This is the third volunteer disclosure that will be published, as a basis for allowing those who work in the coded currency market to report their income.

The state collected about 153 million NIS in the procedure that ended in 2019, and more than 3.5 billion NIS in the procedure that was implemented between 2014 and 2016. Throughout the world, according to the estimates of the Israel Tax Authority, the new procedure was expected to achieve about 2-3 billion NIS in state treasures, but months have been approved, and no new procedure has been published.

The main bone of the claim was that delaying the publication of the procedure is the issue of whether it would include the path of unknown detection, as citizens can maintain their identity in the past when submitting the application, and revealing themselves only after approval by the Israel tax.

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The “unknown path” was a great leap in the number of requests and disclosure in previous voluntary disclosure procedures. Thus, 4,684 of 7,615 applications were submitted in the voluntary disclosure procedure that ends in 2016 under the unknown track, and 520 out of 872 applications submitted in the procedure ended in 2019.

The latest draft of the procedure is almost identical to the previous voluntary disclosure procedures, except for one important change: the procedure will not have an “unknown path”. After long discussions on this issue, the Tax Authority on Israel and the Ministry of Justice agreed that it will not be an unknown review of voluntary examination this time will not be possible and the applicant will be identified from the beginning.

The Israeli Tax Authority initially diminished that the absence of an unknown path would lead to the absence of advanced people revealing their hidden wealth due to the fear that if the procedure fails, the state will work against them. However, the Ministry of Justice insisted that after giving citizens two opportunities to reveal their wealth in the past, including through an unknown path, an unknown path should not be included this time. “There is a great sensitivity that surrounds the issue of non -disclosure of its identity, which led to the delay in publishing the new procedure, but now discussions of the final formulation of volunteer disclosure are in the final stages, and it seems that there will be no unknown path.”

The rapid path of encrypted currencies

While the unknown track has been canceled, a green path will be opened for the cryptocurrency investors to report their profits from digital assets to a specific ceiling. The roof amount has not yet been determined, but it will not reach only hundreds of thousands of thousands. This is a quick course that allows the detection of financial assets without the need for a hearing with an evaluation employee, but only by submitting reports.

The previous voluntary disclosure procedures included the “short track” (which later became “green track”), intended to report “small omission”, as the unnamed capital did not exceed two million north, and the income subject to the resulting tax did not exceed NIS 500, 000. In such a case, given the relatively low amount, citizens can detect their income and profits and obtain immunity from criminal procedures in a quick process, with almost automatic approval of the request after reports, without the need to negotiate with the tax authority.

It was published by Globes, Israel Business News – En.globes.co.il – on February 17, 2025.

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