The Tax Authority’s program encouraging people to report tax cheats has uncovered some NIS 12 billion in unreported assets since it was launched in February. And Tuesday, program director Moshe Asher vowed to widen the crackdown on the underground economy.
Speaking at a conference of the Society of Trust and Estate Practitioners, Asher said the authority plans to set up an analytical unit to identify black capital held overseas.
The authority is also promoting legislation that would allow it to automatically exchange data with countries with whom Israel has no tax treaty, and is advancing efforts to share information with the United States.
“The tax law has a lot of loopholes that need to be closed and the Economic Arrangements Law is the proper platform for this,” Asher said, referring to an effort to gain new powers through the legislation, which has met strong Knesset opposition. “Furthermore, we wanted more changes, but in consultation with the [Finance] Committee we have put them into other legislation beyond the Arrangements Law.”