We are talking about amounts from 50 to 200 thousand shekels (from 13 to 50 thousand dollars). If at home, in the office and in any place other than a bank, a resident of Israel has such money, he must declare it at the tax office and provide documents confirming the origin of the funds.
The new measures are a continuation of Israel’s systematic cashless policy. Since August, it is no longer possible to pay cash for goods or services worth more than 6 thousand shekels, “cash” is prohibited in transactions with real estate and vehicles. According to the authorities, a further tightening of cash controls will not only lead to higher tax collection, but will also affect criminal groups and make it more difficult to support terrorism.
