AB Advanced Accounting are certified tax advisors who represent crypto investors in Israel.
They provide professional accounting services which include bookkeeping, tax counselling, opening cases and representation before the Israel tax authority, submission of annual reports and capital statements, financial advice and business support, as well as specialized support for crypto investors.
With AB Advanced Accounting, you can be assured of efficient, orderly and standard bookkeeping – which is critical for the general accounting of the business and reporting to the tax authorities. Without professional and orderly bookkeeping, it is impossible to meet the legal requirements for accounting conduct, and it is also impossible to receive important data regarding business performance and financial aspects of your business.
Not to mention, the process of starting a business can be stressful, complex and confusing in terms of requirements and bureaucracy. But, with AB Advanced Accounting as your trusted advisor everything will be easier and simpler, leaving you to focus on what is important to you - running your business and generating income - and not with the bureaucracy!
Finally, AB Advanced Accounting provide comprehensive tax advice and is also available for representation before the tax authorities. They will ensure that your tax matters are handled professionally and are correct, smart, and of course legitimate in terms of the various aspects of taxation.
AB Advanced Accounting are also well-versed in digital currency taxation. They know it can be confusing and leave investors with many questions.
While technically, the Israel Tax Authority really has no way of knowing if you invest in cryptocurrencies on international exchanges. If you have purchased and/or performed operations on the Israeli Stock Exchange and/or exchanges in Israel, they do, however, have the ability to know about your activity. So you will likely be required to declare your activity.
In Israel, as with almost all countries in the world from a taxation point of view, digital currency is seen as an asset. Which means that your crypto holdings might be subject to capital gains that are dealt with in Part E of the Income Tax Ordinance or alternatively business profits, which are dealt with in Part B of the Income Tax Ordinance. Both of which have different tax rates.
The process can be complex, but AB Advanced Accounting always keep up to date with the taxation legislation. That means you can be confident that your crypto taxes are being well managed with AB Advanced Accounting as your trusted advisor.