In an effort to attract global investors and companies, Israel’s parliament, the Knesset, is advancing a bill exempting foreign residents from capital gains tax on the sale of digital currencies. Sponsored by Knesset member Dan Ilouz and passed through a preliminary reading in the parliament on 5 June, the bill also proposes to lower the tax rate on crypto bonuses with employee stock options from 50% to 25%. Nir Hirshman and Shauli Rejwan, co-founders of Israeli Crypto Companies Forum (ICBW3), welcomed the move, perceiving it as the country’s endorsement of cryptocurrencies. The bill also seeks to differentiate the term “digital currency” from “security”.
Source: https://cointelegraph.com
