Israel Faces Billions in Lost Crypto Tax Revenue

Quick Summary:

Israel has reportedly lost billions of shekels in potential tax revenue from cryptocurrencies, according to a report published today by the State Comptroller and Ombudsman.

A key finding is that only 0.25% of an estimated 200,000 digital currency holders filed tax returns during this period.

The State Comptroller underscores the need for the ITA to establish clearer tax regulations for cryptocurrency.

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Article Details

Author / Journalist: Janani

Category: Crypto

Markets: United Arab EmiratesIsraelUnited KingdomUnited States

Topics: Bitcoin Cryptocurrency Latest News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 07:13:09 (16 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 297 words

Reading Time: 2 minutes read

Sentences: 28 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23445770

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 20 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #125

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