No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, October 2, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Israel Tax Authority launches new voluntary disclosure plan

by TheAdviserMagazine
1 month ago
in Business
Reading Time: 3 mins read
A A
Israel Tax Authority launches new voluntary disclosure plan
Share on FacebookShare on TwitterShare on LInkedIn


The Israel Tax Authority has officially published the new voluntary disclosure proceedings that will grant immunity from criminal proceedings for those who declare their hidden capital and fully pay tax on it over the next year.

The new procedures, published 18 months later than planned, and six years after the previous voluntary disclosure plan ended, is especially designed for cryptocurrency investors who have not disclosed the capital they have accumulated in recent years, and have not paid tax on it as required.

As “Globes” has previously revealed, the new voluntary disclosure procedure does not include an anonymous disclosure track as in previous plans, but will include a fast “green” track for reporting small amounts, including cryptocurrency profits, without the need for discussions with an assessment officer.

The Israel Tax Authority, with the approval of the Attorney General, announced today the implementation of the voluntary disclosure procedure that will be in effect for one year, until the end of August 2026. According to the terms of the procedure, businessmen, individuals, corporate officers and representatives, Israelis and foreign residents, who have violated tax laws, will be able to conducts a “voluntary disclosure” procedure, pay the taxes legally required and avoid criminal proceedings. Among the terms is that the application be made honestly and in good faith, and that at the time of the request, no check or investigation is being conducted by the Tax Authority of the applicant.

This is how it will work

Applications for voluntary disclosure will be submitted on an online form that will be uploaded to the Tax Authority website in the coming days. Applications will be processed in one of two tracks: a regular track and a green track. In the regular track, an assessment agreement will be signed with the relevant office. While the green track is intended to expedite the processing of applications with a relatively small amount of capital involved.

The green track will process applications that relate to income originating from financial assets held in financial institutions outside Israel, whose balance as of December 31, 2024 was less than NIS 4 million, and there were no new deposits or transfers of funds to the financial account during the disclosure period, or income from a residential rental property in Israel and/or abroad in an amount not exceeding NIS 250,000 per year; or income derived from digital assets not exceeding NIS 500,000 for the entire disclosure period, and where the fair value of all digital assets as of December 31, 2024 did not exceed NIS 1.5 million.





RELATED ARTICLES




Tax Authority’s voluntary disclosure billions hit by red tape






The decision on the track in which the request will be processed will be made by the Israel Tax Authority, after the request is approved.

In cases where the request is not approved, the Israel Tax Authority will not be able to use the information provided, whether in a civil proceeding or as part of a criminal investigation. The Tax Authority will be able to use any information related to the request for voluntary disclosure that has reached it in another way, or in cases where the tax has not been paid or the request was not made in good faith, or part of the relevant information has been concealed.

The procedure is expected to bring the state coffers NIS 2-3 billion

The procedure applies to a number of income tax, VAT, customs and real estate tax offenses, and relates to all types of income. Tax payment in relation to the disclosure of income originating from digital assets can be made in accordance with the “Temporary Provision Procedure for Receiving Tax Money Due to Profit from Realization of Dispersed Means of Payment.”

This is the third voluntary disclosure procedure in Israel after similar procedures were implemented in 2011-2012, 2014-2016 and 2017-2019 (the last two procedures were published in one framework). As part of these procedures, approximately 9,000 cases were handled and tax was collected amounting to about NIS 5 billion.

In recent years, the Israel Tax Authority has tried to renew the procedure several times, but the initiative was blocked by the Ministry of Justice, which initially believed that tax offenders should not be given another opportunity to “launder” their hidden wealth.

But in May 2024, Israel Tax Authority director Shay Aharonovich announced that the Attorney General had approved the latest procedure and “within a few days” a new voluntary disclosure procedure would be published. The state was already counting the billions that would soon flow into the state coffers from the disclosure of Israeli capital circulating around the world, with the Israel Tax Authority estimating that the new procedure would bring in NIS 2-3 billion, mainly from cryptocurrency profits. However, months went by, and a new procedure was not published – until now.

Published by Globes, Israel business news – en.globes.co.il – on August 25, 2025.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.




Source link

Tags: AuthorityDisclosureIsraelLaunchesplantaxvoluntary
ShareTweetShare
Previous Post

NFTs Heat Up In August

Next Post

What Are the Downsides of Retiring With Too Much in Assets?

Related Posts

edit post
PepsiCo’s new challenge: Making its chips and sodas colorful without artificial dyes

PepsiCo’s new challenge: Making its chips and sodas colorful without artificial dyes

by TheAdviserMagazine
October 2, 2025
0

Pepsi has a new challenge: keeping products like Gatorade and Cheetos vivid and colorful without the artificial dyes that U.S....

edit post
What CEOs are saying about the government shutdown

What CEOs are saying about the government shutdown

by TheAdviserMagazine
October 2, 2025
0

Good morning. I was talking to a CEO over the phone yesterday about the potential business impact of a government...

edit post
Sign of the times as Swiss buy euros, not dollars

Sign of the times as Swiss buy euros, not dollars

by TheAdviserMagazine
October 2, 2025
0

The Swiss National Bank may be a special case, but if you were looking for a switch in the behavior...

edit post
Lyft CEO on the time Bill Gates told him he was making ‘the stupidest decision I’ve ever heard anyone made’

Lyft CEO on the time Bill Gates told him he was making ‘the stupidest decision I’ve ever heard anyone made’

by TheAdviserMagazine
October 1, 2025
0

Before David Risher was tasked with scripting a “comeback story” for ride-sharing company Lyft, he made a career move so...

edit post
The rise of the bro co-CEO

The rise of the bro co-CEO

by TheAdviserMagazine
October 1, 2025
0

Yesterday, Spotify founder and CEO Daniel Ek announced that he’ll be stepping down in the new year. Two of his...

edit post
Stripe is already a payments colossus. Now it wants to make stablecoins the backbone of global commerce

Stripe is already a payments colossus. Now it wants to make stablecoins the backbone of global commerce

by TheAdviserMagazine
October 1, 2025
0

Last October, the payments giant Stripe announced a blockbuster $1.1 billion acquisition of Bridge, a little-known startup focused on the...

Next Post
edit post
What Are the Downsides of Retiring With Too Much in Assets?

What Are the Downsides of Retiring With Too Much in Assets?

edit post
S&P puts Keurig Dr Pepper on negative credit watch

S&P puts Keurig Dr Pepper on negative credit watch

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
Shekel gains sharply amid optimism on Trump plan

Shekel gains sharply amid optimism on Trump plan

0
edit post
James Comey Is Not an Innocent Victim of the Lawfare He Helped to Create

James Comey Is Not an Innocent Victim of the Lawfare He Helped to Create

0
edit post
XRP Falls 2.3% As Ripple CTO David Schwartz Exits

XRP Falls 2.3% As Ripple CTO David Schwartz Exits

0
edit post
Why American Workers Are ‘Coffee Badging’ Their Way Through Hybrid Jobs

Why American Workers Are ‘Coffee Badging’ Their Way Through Hybrid Jobs

0
edit post
Wall Street sets more records, but bond yields drop following discouraging data on the job market

Wall Street sets more records, but bond yields drop following discouraging data on the job market

0
edit post
Rate Cuts are Officially Here—But That Brings It’s Own Risks and Rewards

Rate Cuts are Officially Here—But That Brings It’s Own Risks and Rewards

0
edit post
James Comey Is Not an Innocent Victim of the Lawfare He Helped to Create

James Comey Is Not an Innocent Victim of the Lawfare He Helped to Create

October 2, 2025
edit post
PepsiCo’s new challenge: Making its chips and sodas colorful without artificial dyes

PepsiCo’s new challenge: Making its chips and sodas colorful without artificial dyes

October 2, 2025
edit post
What CEOs are saying about the government shutdown

What CEOs are saying about the government shutdown

October 2, 2025
edit post
Why American Workers Are ‘Coffee Badging’ Their Way Through Hybrid Jobs

Why American Workers Are ‘Coffee Badging’ Their Way Through Hybrid Jobs

October 2, 2025
edit post
Report: The Financial Landscape of Sub-Saharan Africa

Report: The Financial Landscape of Sub-Saharan Africa

October 2, 2025
edit post
Sign of the times as Swiss buy euros, not dollars

Sign of the times as Swiss buy euros, not dollars

October 2, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • James Comey Is Not an Innocent Victim of the Lawfare He Helped to Create
  • PepsiCo’s new challenge: Making its chips and sodas colorful without artificial dyes
  • What CEOs are saying about the government shutdown
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.