Aliya and Taxes
Here’s the scenario. You have just made Aliya and you are trying to get yourself settled. The last thing you want to think about are taxes. However…I am now living in Israel and I want to be compliant with my new country’s tax rules. I know what I was required to do “back home.” What do I need to do in my new home? Under Israeli law, all Israeli residents or households are required to file an annual income tax return. However, as with every rule, there are exceptions. Exemptions are granted to certain groups of taxpayers, usually when there is
עליה ומיסים | Aliya and Taxes
Larry Stern, CPA (US) Here’s the scenario. You have just made Aliya and you are trying to get yourself settled. The last thing you want to think about are taxes. However…I am now living in Israel and I want to be compliant with my new country’s tax rules. I know what I was required to do “back home.” What do I need to do in my new home? Under Israeli law, all Israeli residents or households are required to file an annual income tax return. However, as with every rule, there are exceptions. Exemptions are granted to certain groups of taxpayers, usually when
Israel to Tax Cryptocurrencies as Capital Asset, not Currency
Written: CPA Larry Stern The Israel Tax Authority recently announced that bitcoin and other cryptocurrencies would be taxed as a capital asset, not a currency. Israel had been considering the measure since 2013. The decision, announced in a circular on Feb. 19, means that cryptocurrencies are subject to capital gains tax for individual investors, and marginal rate taxation for those considered to be running businesses of cryptocurrency trading. Individuals who are mining or trading in cryptocurrencies, will be required to account for VAT (currently 17%), as per any standard business. This announcement comes as many Israeli banks have attempted to close the accounts
