ISR Justice consulted on draft Income Tax Order (Determination of Consideration Payment or Capital Gain from a Digital Asset as Income), 5785-2024.
Purpose
Under Section 164 of the Income Tax Order, anyone who pays or is responsible for the payment of income is liable to deduct tax in the manner and at rates to be determined.
The proposed order states that consideration or capital gain from the sale of digital assets will be income to which the withholding obligation set out in section 164 applies.
Effectiveness
Comments can be submitted until Jan. 15, 2025, at 23:59 pm.
