Do you know what are the tests that determine residency for tax purposes? Adv. Doron Levy discusses the criteria for establishing residency: “Let’s take Israel, for example. In Israel, the basic test is a fundamental one: where is the person’s center of life? Determining the center of life involves a comprehensive examination of various factors, such as the person’s place of residence, employment, familial ties, financial interests, and more. While there are additional auxiliary tests, they are inconclusive and serve to create certainty. For instance, spending more than 181 days in Israel or exceeding 425 days within a consecutive three-year period will automatically classify an individual as an Israeli resident”.
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,
