The Taxman Catches Up with Cryptocurrency in Israel
Posted: Sun Feb 18, 2018 7:14 pm
The Israeli Tax Authority (ITA) released a circular on the 17th of February containing the final details of taxation of cryptocurrency transactions and cryptocurrency mining in the country. This follows the draft that it released one month ago.
The circular deals with distributed means of payment only – ICOs are still under discussion, and a final judgement is pending.
As the authority has represented in the past, it considers cryptocurrency to be property, not currency.
David Moliner, advocate at law firm Nir Porat & Co., said: “With regard to distributed means of payment, such as ... (read more)