PANews reported on November 7 that Israel's State Comptroller Matanyahu Englman pointed out that the tax authority failed to take effective measures to collect taxes from the cryptocurrency market, resulting in the government missing out on approximately 3 billion New Shekels (about 800 million USD) in potential tax revenue. The report indicated that from 2018 to 2022, the Israeli tax authority received only about 500 cryptocurrency transaction reports annually, while the number of cryptocurrency wallet holders could be as high as 200,000, leading to a tax reporting rate of only 0.25%.
Englman emphasized that, in the context of increasing national debt due to war and security demands, the government should study cryptocurrency tax policies to avoid increasing the tax burden on the public. Since 2018, the tax authority has only issued three public statements related to cryptocurrency taxation and has not updated tax regulations according to market changes.