Topic: According to Israel Tax Authority : Bitcoin is property not currency (Read 66 times)
February 20, 2018, 11:38:52 AM
A circular has been out and according to it, distributed means of payment is an asset. If a person activity does not reach to business is only entitled to capital gain tax and whose activity reaches to a business then tax would be paid as any business activity. As bitcoin has been declared as asset,property,it's subject to Israeli capital gains that range to 25 per cent. Miners would be stuck worse of it as they would not only be paying capital gains but also VAT which could boost their tax bill to some 42%.
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