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HomeLatest NewsIsrael to introduce fine for keeping cash KXan 36 Daily News

Israel to introduce fine for keeping cash KXan 36 Daily News

Date: March 21, 2023 Time: 17:26:08

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.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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