Israeli Lawmakers Support Axing Crypto Capital Gains Tax for Foreigners

A bill exempting foreign residents from capital gains taxes on crypto sales, and lowering tax on stock-options-like crypto options for employees has passed a preliminary reading in the Knesset.

A bill to extend certain tax benefits afforded to Israel's high-tech firms to the country's crypto sector passed a preliminary reading in the Knesset, the country's parliament, on Wednesday.
If passed into law, the bill would exempt foreign residents from capital gains taxes on the sale of digital currencies and reduce tax on crypto options for employees – similar to stock options – to about 25% from 50%, the Israel Crypto, Blockchain and Web3 Companies Forum (ICBW3) told CoinDesk.
The bill has the support of the coalition government led by Prime Minister Benjamin Netanyahu, and aligns with his economic policies to attract investors and companies to Israel, according to Dan Illouz, a lawmaker in Netanyahu's Likud party.

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