IRS Director Shai Aaronovitch announced a new “voluntary reporting” program for Israelis with undeclared income in exchange for paying taxes and waiving criminal prosecution.
According to Aaronovich, the Ministry of Justice has agreed to launch the program, which will last until the end of 2025.
The new program will be aimed primarily at holders of assets in cryptocurrencies abroad, who have so far had problems with declaring assets and income and, accordingly, with their transfer to the Israeli banking system.
The tax administration estimates that the program will bring NIS 2-3 billion in taxes to the state treasury.