Latest News; Israel Trims Crypto Trading Profits Tax

“The declaration has an impact not only on Israel but also marks a milestone for the way the tax authorities look at the Crypto industry. Such a step would save tens of millions of dollars on the one hand and, on the other hand, increase the profit of hundreds of millions of dollars in the country,” he continued. “New technological means allow extracting information from Blockchain directly. Thus, you can track the date of purchase of each currency specifically and make the exact tax calculation according to when each currency was bought and sold. In this way, the exact profit can be calculated rather than using profit estimation methods such as FIFO.”

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