Israel's crypto tax amnesty program falls short of revenue goals

A voluntary disclosure program for cryptocurrency holders by the Israel Tax Authority (ITA) has yielded results far below initial expectations, local media outlet Globes reported. The Israeli government had anticipated securing up to $1 billion in tax revenue through the program, which was introduced in August 2025. However, the value of crypto assets declared so far amounts to only about $50 million. The program exempts individuals from criminal prosecution if they voluntarily declare unreported crypto assets or income and pay the corresponding taxes. To date, only 58 taxpayers have amended their filings under the initiative. Industry observers have pointed out that the lack of an anonymous reporting process is hindering participation, suggesting the program's effectiveness has not met expectations.