Israel’s Tax Body Aggressively Pursuing Cryptocurrency Tax Evaders

The tax-collection agency of Israel is targeting cryptocurrency traders and investors in an aggressive push aimed at stemming tax evasion.

According to the financial daily Calcalist, the Israel Tax Authority (ITA) has taken stern measures aimed at nabbing those suspected of not reporting gains made from cryptocurrency investments and trading.

Some of the measures taken include sending notice letters to individuals suspected of not reporting their earnings from crypto trading. Per the financial daily, some of the tell-tale signs of tax evasion by cryptocurrency traders include frequent travels abroad without documentation or material evidence of how the trip’s expenses will be met. Additionally, those who own multiple real estate properties are also being targeted.

“The authority has also sent notice letters to Israelis whose activity raises suspicion of unreported earnings, such as those who travel abroad frequently without having the requisite funds on paper, or those…