On Tuesday, Israel's Finance Minister Avigdor Lieberman announced that the country is preparing to introduce a tax on profits from cryptocurrency operations. The government is already working on a draft law that provides for the taxation of income from operations with digital assets. "We are preparing to introduce a tax on operations with cryptocurrencies. For this, we have already started developing a draft tax legislation," Lieberman noted.
He explained that there is currently a time to ensure that cryptocurrencies begin to contribute their share to the tax base of Israel. "We cannot remain on the sidelines and not tax operations with digital assets," the minister added.
Israel plans to follow the example of other countries, including the USA, Germany, and the United Kingdom, which have already implemented taxation on cryptocurrency. In order to counteract the evasion of money and financial terrorism, the government aims to fully regulate operations with digital assets.
