14 Sep '13, 3am

Israeli government reportedly mulling bitcoin tax

The Israeli government is considering taxing profits on bitcoin, said an Israeli paper this week. Business paper Globes reported that the Israel Tax Authority is mulling the prospect, believing that people who make profits from bitcoin owe taxes. “We cannot ignore this phenomenon which one way or another involves financial transactions and therefore we are examining its importance,” an Israel Tax Authority source was quoted as saying. But a model for taxing profits was unclear, given that the country has not yet recognized bitcoin as an official currency, said Globes.

Full article: http://www.blacklistednews.com/Israeli_government_reporte...

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Israeli government reportedly mulling bitcoin tax

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