Cryptocurrency and Taxes: Israel Introduces New “Green” Track for Income Disclosur

A new voluntary asset disclosure procedure, developed by the Israel Tax Authority, will allow citizens who have hidden or failed to report assets to come forward, pay the required taxes, and receive immunity from criminal prosecution.

Unlike previous programs, the new procedure will not include an anonymous submission mechanism. However, it will feature a special “green” fast track designed for reporting profits from cryptocurrency transactions of up to several hundred thousand shekels. This process will not require discussions with tax inspectors, making it easier to declare crypto-related income.

The new procedure was finalized during recent discussions on the updated voluntary disclosure program. Although its publication has been delayed for over a year, it is now expected to be released soon.