“When I own Bitcoin, for example, I own an asset. It doesn’t mean that I am a trader. To be a Bitcoin trader, It has to be proven that I opened a virtual currency business and the tests for such a business must be met. It doesn’t mean that I have to rush and open a file with the income tax authorities. The tax is paid as part of reporting capital gains or deduction at the source. The tax authority should be cautious about opening files at this point”, said Adv. leor Nouman, Partner and Head of our Tax Practice in an interview published in Globes regarding the Tax Authority’s crackdown on digital currency players. For the full article click here