PANews reported on November 7 that according to Israel's Globes, Israel's National Auditor General Matanyahu Englman pointed out that the tax bureau failed to take effective measures to collect taxes from the cryptocurrency market, causing the government to lose about 3 billion new shekels (about 800 million US dollars) in potential tax revenue. The report shows that between 2018 and 2022, the Israeli tax bureau only received about 500 cryptocurrency transaction reports each year, while the number of cryptocurrency wallet holders may be as high as 200,000, with a tax rate of only 0.25%.
Englman stressed that in the current context of increasing national debt due to war and security needs, the government should study cryptocurrency tax policies to avoid increasing the tax burden on the people. Since 2018, the tax bureau has only issued three public statements related to cryptocurrency taxation and has not updated tax regulations based on market changes.
