Taxing Bitcoin as an Asset

In a draft circular, Israel has announced that it will tax digital currencies like Bitcoin as assets instead of currency.  This follows a similar decision in the U.S.  Any profit from the sales of Bitcoin would be taxed.  This means that a taxpayer could pay tax on the sale of the product or service that results in acquiring the Bitcoin, and again on any gain from selling the Bitcoin.  https://taxes.gov.il/english/Pages/HomePageENG.aspx

Article by David Fried

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