NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Israel Draft Crypto-Tax Rules Consider Bitcoin as an Asset

Gautham
Gautham
4 years ago
2 mins read
VC Head Believes Israel will Lead Blockchain App Industry. newsbtc Bitcoin news

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The cryptocurrency community in Israel now has some clarity about the legal status of Bitcoin in their country. The country’s tax authorities have recently announced that Bitcoin and other cryptocurrencies will be considered as assets and are taxable.

The legal status of Bitcoin has always been a grey area in many countries across the world. But with the Israeli authorities clarifying their stance over the cryptocurrency, people can now manage their tax filings accordingly. At the same time, few community members have expressed their concerns over certain prohibitive clauses that might make cryptocurrency usage a very costly affair.

According to media reports, the Israel Tax Authority clarified the tax rules about Bitcoin and other cryptocurrencies in its latest draft paper. The authorities claim to have done so following multiple requests from the cryptocurrency community within the country. However, it is not clear when Israel will implement the regulations.

The authorities have classified cryptocurrencies as assets that are not synonymous with financial securities or stocks. At the same time, it will not be considered as a form of currency either. It also makes cryptocurrencies eligible for a 25 percent capital gains tax whenever somebody sells their cryptocurrency holding. Also, the exchanges trading cryptocurrencies will have to charge a 17 percent VAT for asset sales and pass it on to the government in addition to the existing corporate income tax.

The new draft is set to increase the cost of every single cryptocurrency transaction in the country, negating some of its benefits. Also, the implementation of such draft rules is expected to make it much harder for businesses receiving cryptocurrency payments as they will have to classify it as a barter and file paperwork accordingly, says an online financial magazine.

Bitcoin has already proven itself to be a reliable form of currency. The digital currency, like gold, satisfies all the properties of an ideal money. But governments are hesitant to call Bitcoin a currency as they should, mainly because they fear losing control over the monetary system.

The situation is expected to remain the same for a long time unless some country wakes up and decides to call bitcoin a form of currency openly.

Ref: Finance Magnates | Image: NewsBTC
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

$122,000 And Climbing: Bitcoin Sets New Record As ETFs Drive Demand

Bitcoin rose above the $122,000 mark on Monday. According to data from CoinGecko, prices briefly topped that level before pulling...

Christian Encila 3 hours ago
Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Ethereum has broken out above the $3,000 level, reaching its highest price since late January and signaling a strong resurgence...

Sebastian Villafuerte 4 hours ago
Avalanche

Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here?

Avalanche (AVAX) climbed past the $21 level this week, marking a 2.5% gain over 24 hours. Trading volume hit nearly $800 million,...

Christian Encila 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano price news

Cardano Flashes Major Buy Signal—$1.90 Target Unleashed

Jake Simmons 6 minutes ago
Bitcoin

Delay In Bull Market Could Push Bitcoin Higher Than Expected

Sandra White 1 hour ago
BTC (1)

Η Bitwise προβλέπει Bitcoin στα $200.000 λόγω της αυξημένης ζήτησης από επενδυτές

Ανθή Ντόνκοβα 2 hours ago

Premium Sponsors

Press Releases

  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    1 hour ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    3 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    3 hours ago
  • Bitcoin Hyper

    ...

    7 hours ago
  • BTC breaks through $122,300, GoldenMining users earn...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.