“The intention is to create a voluntary mechanism, under which, according to the new track, small businesses will be entitled to deduct an expenditure rate of 20% from their turnover, as an alternative to the demand for deducting actual expenses”, Adv. Doron Levy explained on Globes. “This change is expected to exempt from submission of an annual tax report and other duties such as advance payments and capital statements. The draft proposes consolidating the new track for small businesses in the tax income with the existing exempt business track in VAT”.
Avoiding Penalties: Adv. Doron Levy on Voluntary Disclosure and Crypto Tax Compliance
November 17, 2024
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In a recent video, Adv. Doron Levy highlights Israel’s voluntary disclosure approach, particularly regarding cryptocurrency. He points out that crypto operates outside conventional banking channels,
