Israel's Tax Authority 'Disappointed' in Voluntary Crypto Disclosures

The Israel Tax Authority expected up to $1 billion in tax receipts from a voluntary disclosure policy for crypto holdings, but has so far recorded only about $50 million, Globes said. The outlet added the shortfall points to potentially billions of dollars in underreported crypto assets.

The procedure, announced in August 2025, grants immunity from criminal charges for filers who correctly report and pay taxes on holdings that did not exceed the equivalent of $522,000 as of December 2024, provided they complete the process before Aug. 31, 2026.

Globes said only 58 filers have used the scheme to correct their taxes. Globes quoted Iftach Simhony, a CPA and head of the tax department at the Prof. Bein Law Office: 'In the cryptocurrency field, the difficulty of the absence of an anonymous track is even more acute.

Israel

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