🇮🇱 Israel may axe crypto capital gains tax for foreigners
Foreign residents of Israel could get an exemption from capital gains taxes on the sale of digital currencies, according to a new bill that passed preliminary reading in the country's parliament, the Knesset.
The author of the bill, which grants an exemption and other tax benefits for digital asset holders, said it has the full support of the ruling coalition parties and is likely to be adopted.
The bill would also level up crypto bonuses with stock options for employees by reducing the current 50% tax on the former to 25%.
In addition, it proposes to use the term "digital currency" separately from "security."
The bill is expected to enhance Israel's appeal to investors around the globe.
Earlier in April, the Bank of Israel teased its central bank digital currency (CBDC) project. Although "a formal decision has yet to be made," the central bank is ready for potentially developing and deploying a digital shekel.
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🇮🇱 Israel may axe crypto capital gains tax for foreigners
Foreign residents of Israel could get an exemption from capital gains taxes on the...
